Former Mayor Michael Bloomberg will reassume leadership of the company he founded following the departure of its current chief.
Bloomberg says Dan Doctoroff will step down as President and CEO of Bloomberg LP at the end of the year.
Doctoroff served as a deputy mayor to Bloomberg for six years before becoming the company's president in 2008, and CEO in 2011.
In a statement, Bloomberg says he is sad to see Doctoroff go, but understands his decision. He also says he never intended to come back to his company after serving 12 years as mayor.
Bloomberg added the more he reacquainted himself with it, the more exciting and interesting he found it.