Former New York Mayor Michael Bloomberg will return as head of Bloomberg LP, the data and financial news company he founded, replacing Daniel Doctoroff, the company said on Wednesday.

The company, in which Bloomberg is the majority shareholder, said Doctoroff would step aside as president and chief executive at year-end.

"Bloomberg LP will not name a replacement, but rather will again be led by Mr. Bloomberg with support from the existing leadership team," the company said in a statement.

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