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By Kate Holton
LONDON (Reuters) – Global education editor Pearson named Andy Bird as its next executive leader, turning to a media veteran who helped expand Walt Disney’s virtual client to its most recent transformation.
Pearson said Bird was scheduled to begin his new task on October 19, and that current chief John Fallon will remain in office until that date. Fallon, who had to resign this year, will leave the board and remain an advisor until the end of the year.
The British company, the world’s largest education publisher, has cut thousands of jobs and restructured in recent years to sell textbooks and online tutorials, after the switch to virtual sales triggered repeated profit warnings.
“Because of the joy and skills of (Bird), it is in a unique location to continue Pearson’s transformation, leading to a new era of expansion and price for all of our shareholders,” President Sidney Taurel said.
Earlier this year, Pearson kept his dividend pay to shareholders even as many giant British corporations were forced through the COVID-19 crisis to cut payments, as the pandemic helped drive the transition to the virtual when schools and schools closed.
Bird, who was president of Walt Disney International until 2018, is recently a non-executive director of Pearson and was appointed to the Board of Directors on May 1.
Credit Suisse stated that the appointment is likely to be made in a positive way, but that demanding situations persist.
Bird will acquire $3.75 million worth of shares of the company. Your salary, which includes salary, monetary allocation and participation in an incentive plan, must be approved through shareholders at ordinary assembly, and your appointment is conditional on that approval.
(Reporting through Kate Holton; edited through Sarah Young and David Holmes)