In Bluebook, David Craig takes us inside the boardroom and data centre to learn the remarkable story of the formation of Refinitiv out of the Financial & Risk division of Thomson Reuters and its transformation in partnership with Blackstone. While those of us close to the company know much of the story and its leaders, every reader interested in how to transform an ageing tech-based business and complete an incredibly complex private equity transaction will appreciate David’s masterclass.

In Bluebook, David Craig takes us behind the scenes of one of the most impressive private equity buy-outs of the last twenty years.  It’s a cracking read, and it gives you a good sense of the personal journey David went through in leading the transformation of Refinitiv.

David Craig’s ‘Bluebook’ is an unflinchingly honest and practical guide to large-scale business transformation and navigating high-stakes private equity deals. It is a rare insider’s view, drawing from his leadership of the $20 billion Refinitiv carve-out from Thomson Reuters. It combines compelling anecdotes with actionable lessons they don’t teach at business school—like “people, not plans, prove decisive” and “make the ‘why’ loud, clear and constant”. Candid, personal and relentlessly strategic, ‘Bluebook’ is a must-read for any leader seeking clarity, courage and a blueprint for, cultural change, high-stakes decision-making and creation of long-term value.

The Refinitiv story is a beautiful example of how to create a lot of value for employees, customers and shareholders in an astonishingly short period of time.

Over the years CEOs and students alike have asked me for examples of good organisations who have changed strategy, structure, culture and achieved something spectacular. There are very few such stories. However this story of Refinitiv is one such story. Under David Craig’s focused leadership he tells the story of how a choice and change in direction, backed by the right level of resourcing and focus from Blackstone enabled him to take a business once in turnaround as part of Thomson Reuters to be one of the largest most successful buyouts of recent years. The Bluebook is a tale of strategic choices backed by sufficient resources and focusing as much on following the market opportunities as getting the right organisational leadership and culture in place to land the strategy well. It’s a classic example of how to get a strategy right. It’s also a very good read!

David Craig offers an insider’s view of what it takes to close a major deal and transform a business swiftly. It’s not just strategy—trust, alignment, focus, and people are all critical. The Refinitiv carve-out, one of the most significant in recent history, shows how leadership, culture, and vision can unlock extraordinary value quickly and offers valuable lessons for anyone involved in complex transformations or private equity.