Former New York Mayor Michael Bloomberg is returning to run Bloomberg LP, according to a letter sent to all employees Wednesday.
Chief Executive Dan Doctoroff said he was stepping down as CEO at the end of the year so Bloomberg could resume control but would serve on the board of Bloomberg Philanthropies.
"Simply put, while Mike never intended to come back full time, after he left City Hall and started getting to know the company again, he rediscovered what an exciting and incredible place this is," Doctoroff wrote, adding: "It is and has always been his company, and given his renewed interest, it is natural for him to reassume leadership of the company."
IN-DEPTH
SOCIAL
— M. Alex Johnson