Michael Bloomberg Is Taking His Company Back

Former New York City Mayor Michael Bloomberg is taking over the leadership of the company he founded, Bloomberg LP, just eight months after leaving political office, The New York Times reports.

Bloomberg, who owns 88% of his company, told The Times he did not intend to return to a leading role, but he had been seen in the Bloomberg offices more frequently in recent months.

The confusion of leadership apparently didn’t sit well with CEO Daniel Doctoroff, who announced he would step aside at the end of 2014. He had been with the company since January 2008, and assumed the role of CEO in July 2011.

“I have gotten very involved in the company again and that led to Dan coming to me recently to say he thought it would be best for him to turn the leadership of the company back to me,” Bloomberg said in a statement. “It was a gracious and thoughtful offer and one that I finally accepted after significant pushback and great reluctance.”

Both Doctoroff and Bloomberg insisted to The Times’ Andrew Ross Sorkin there were no hard feelings, or fights over leadership.

“When Mike decided he wanted to spend some time at the company, and then spent more time, obviously things changed,” Doctoroff told The Times. “It isn’t the job I had for the past six years. It’s his — he wants to be involved. He doesn’t want to consult with me on everything. I get that.”

Here’s Bloomberg L.P.’s full statement on the shakeup. >

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