Thomson Reuters announced on Monday that it has appointed Gary E. Bischoping Jr. as Chief Financial Officer, effective May 8. He will succeed Mike Eastwood, who is retiring as planned.

Bischoping, who most recently served as a partner at private equity firm Hellman & Friedman, will join Thomson Reuters on April 13. He previously spent more than 17 years at Dell Technologies Group, holding several senior management roles, including CFO and Treasurer of one of its divisions.

As part of this leadership transition, Eastwood will become Chairman of the Thomson Reuters Foundation Board, taking over from Jim Smith. Smith is the former CEO of the Toronto-based information technology company, which owns the Reuters news agency.

Steve Hasker, CEO of Thomson Reuters, said in a statement: "With his strong financial acumen, strategic vision, and operational leadership, Gary will help guide Thomson Reuters into its next chapter, including capturing opportunities in the era of artificial intelligence."

The company stated that both Eastwood and Bischoping will participate in the first-quarter earnings call scheduled for May 5.