Philip Green, chief operating officer and executive director, "has chosen to leave the company" from June 30 according to a statement, leaving the operational running of the business under the group management committee, which is chaired by chief executive Tom Glocer.
Glocer has been responsible for swingeing job cuts across the business. In the first round, 2,500 were axed. In its latest cuts, announced in February, another 3,000 are going.
Glocer said: "Bringing operational management under the direct control of the group management committee will concentrate senior management's attention on the day-to-day changes needed to take this company to peak performance. This change comes at a time when Reuters is making good progress in line with existing guidance.
"Like all the changes being made to return Reuters to financial strength, this move has been difficult for all of us in the company. Philip has made a valuable and enduring contribution to Reuters and leaves with our thanks and warm wishes."
The company said Green's departure was part of its Fast Forward five-point plan developed to make the business more competitive after it recorded a pre-tax loss for 2002 of £492m, its first annual loss since it went public in 1984.
Green joined Reuters as chief executive of Reuters Trading Systems in 1999 from DHL International, where he was chief operating officer for Europe and Africa. He became Reuters chief operating officer in 2001.
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