Pearson’s incoming chief executive John Fallon today insisted that the Financial Times and Penguin can remain a core part of the education giant.
Fallon, 50, Pearson’s head of international education since 2008, was speaking after being named as successor to Dame Marjorie Scardino, who is quitting in January.
Fallon, a Briton who was educated at Hull University, does not plan big changes. “I didn’t sell the board a strategy at all,” he said, explaining he will continue a policy of expanding in digital and emerging markets.
Fallon added this was not just relevant to education. “They are Pearson-wide strategies that apply just as well to the FT and Penguin.”
Asked if he was committed to the FT, he said: “I very much recognise the FT as a very valuable and valued part of the company.”
Analysts raised fears of a boardroom exodus as FT Group chief executive Rona Fairhead, Penguin boss John Makinson and US education boss Will Etheridge had been seen as candidates for Scardino’s job.
“It’s something we always think about,” admitted chairman Glen Moreno. “But we’re ready in terms of succession planning if someone should be ready for another challenge.”
