Last week, the company said Smith was taken to a Toronto hospital after feeling unwell and was under observation at the hospital..

"Mr. Smith's condition is stable and doctors expect a full recovery," Thomson Reuters said in a statement on Tuesday. "It is expected that Mr. Smith will be released from the hospital within the next two weeks, followed by a period of further recovery," the statement added.

Chief Financial Officer Stephane Bello continues to oversee Smith's responsibilities alongside his own, in line with the company's practice, the statement said.

(Reporting by Denny Thomas; Editing by Amran Abocar and Howard Goller)

Stocks treated in this article : Blackstone Group LP, Thomson Reuters Corp