18th December
2019
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Pearson,
the world's learning company, today announces that John Fallon has
informed the Board of his intention to retire from his role as
Chief Executive. To ensure an orderly transition, John will retire
in 2020 once a successor has been appointed. A succession process,
led by the Chair Sidney Taurel, will consider external and internal
candidates.
Sidney Taurel, Chair of Pearson, said: "In some very
challenging markets, John has worked tirelessly leading Pearson
through a period of significant change and led its transformation
from a media conglomerate to a single focused learning company.
Under John's leadership Pearson has become a simpler, more digital
focused business underpinned by a stronger balance sheet and better
positioned to deliver a sustainable and healthy future. The Board
and I are grateful for John's significant
contribution."
John Fallon, Chief Executive of Pearson, said: "There's a
lot still to do but we're making good progress in navigating
Pearson through a period of huge change. We're now a much more
efficient company, able to innovate more quickly and scale
globally. We are investing more in our business than ever before
and pioneering new forms of online education that link learning to
employability. Over 75% of the company is now growing, as we work
our way through a major industry wide disruption in the other 25%
of Pearson - US Higher Education Courseware. All of Pearson is now
very well placed to meet the need for affordable and effective
learning. I am deeply grateful for the commitment and dedication of
my colleagues as we continue to help millions more learners prosper
through a lifetime of learning.
"We're now at the stage where it's time to transition to a new
leader, who can bring a fresh perspective. As the Board works on my
succession, I will continue to be completely committed to leading
the company through this major transformation."
For more information
T + 44
(0)20 7010 2310
Investors:
Jo Russell, Anjali Kotak
Press:
Tom Steiner, Gemma Terry
Brunswick
Charles
Pretzlik, Nick Cosgrove, Simone Selzer +44 (0) 207 404
5959
This
announcement contains inside information.
Ends
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PEARSON
plc
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Date: 18
December 2019
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By: /s/
NATALIE WHITE
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Natalie
White
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Deputy
Company Secretary
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