The Woodbridge Company Limited, the family company that controls Thomson Reuters Corp , announced that David Binet will succeed Geoff Beattie as president and chief executive, effective January 1.

In a separate statement, Thomson Reuters said on Thursday that Beattie will remain its deputy board chairman and that Binet will join the company's board.

Binet is currently the chief operating officer of Woodbridge.

Woodbridge is the investment company of Canada's Thomson family and owns a 55 percent stake in Thomson Reuters.

Thomson Corp acquired Reuters Group Plc in 2008.

(Reporting by Jennifer Saba in New York; Editing by Martin Howell)