|Your best step in this matter is to be glad that this tedious assignment has landed on your associate's desk, and you are now free to do more important, interesting, and personally rewarding work. It certainly would have been nice for the company president to give you some recognition when you were writing these reports, but for whatever reason, he or she did not do so.|
Perhaps the president wanted to get your associate off to a good start on these projects, or maybe he or she believes that your co-worker needs more recognition than you. It is possible that the president finally had enough time to dash off such a note, or maybe he or she sent it on a whim. Most importantly, if the president intended to send you a negative message by sending you nothing at all, then you would not have been given your new assignments.
You should enjoy your new work while recognizing that important projects are important signs of recognition.