Leathern December is a term that has gained popularity in financial circles in recent years. This term is associated with a particular event that occurred in December of 2018, which sent shockwaves through the financial markets. In this article, we will take a closer look at the significance of Leathern December and its impact on financial markets.
What is Leathern December?
Leathern December refers to the sudden and unexpected announcement by Reuters that Paul Leathern, their Director of Product Management for Ads, was leaving the company. This announcement was made on December 20, 2018, and it came as a surprise to many in the financial industry. This event is now widely referred to as “Leathern December.”
Impact on Financial Markets
The announcement of Leathern’s departure from Reuters had a significant impact on the financial markets. This is because Reuters is a major source of financial news and information, and any sudden changes within the company can have a ripple effect across the industry.
When the announcement was made, Reuters’ parent company, Thomson Reuters, saw a drop in its share price of over 3%. This drop in share price was attributed to concerns that Leathern’s departure could lead to a loss of expertise and talent within the company, which could have a negative impact on its future performance.
The impact of Leathern December was not limited to Thomson Reuters. The news also had an effect on other companies in the financial industry, particularly those that rely on Reuters for their news and information. Some of these companies saw their own share prices drop in response to the news.
Leathern December serves as a reminder of the importance of key personnel within companies, particularly in industries such as finance where expertise and knowledge are crucial. It also highlights the need for companies to have succession plans in place for key personnel, to ensure that the departure of a key employee does not have a significant negative impact on the company.
Additionally, Leathern December underscores the importance of communication and transparency within companies. The sudden announcement of Leathern’s departure caught many by surprise and led to speculation and uncertainty within the industry. Clear communication and transparency could have helped to mitigate these concerns.
Leathern December is a term that has become synonymous with unexpected changes within companies and the impact that these changes can have on financial markets. While the event itself was relatively minor in the grand scheme of things, it serves as a reminder of the importance of key personnel within companies and the need for clear communication and transparency. It also highlights the need for companies to have succession plans in place to ensure that the departure of a key employee does not have a significant negative impact on the company.