Pearson Picks Former Disney Exec as New CEO
Pearson announced Andy Bird as its new CEO, starting on October 19, 2020, provided shareholders approve with a vote. John Fallon will continue as chief executive until that date, when he will step down from the company's board and remain as an advisor until the end of the year. Bird was most recently president and chairman of Walt Disney International.
The news comes as Pearson is suffering from a downturn in sales of education titles as a result of the Covid-19 crisis. The company recently reported a 17% drop in revenue for the first half of 2020, compared with the same period in 2019.
Upon news of the appointment, Bird said, "Personally I have a deep passion for learning and the profound positive impact it has on people's lives across the world. Pearson has a great purpose, great values and great opportunities for growth in the future."