Pearson has just announced the resignation of its CEO John Fallon as well as the disposal of its remaining 25% stake in Penguin to Bertelsmann (for $675m net; the whole entity valued at $3.67bn). £350m will be returned to shareholders through a share buy-back in early 2020. After a number of profit warnings and contests regarding his remuneration, a number of shareholders had asked for John Fallon’s resignation in the past. This can be read as a forthcoming new era for the group.<
18 Dec 2019
CEO leaving the company and stake in Penguin sold off
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CEO leaving the company and stake in Penguin sold off
Pearson PLC (PSON:LON) | 986 -159.8 (-1.6%) | Mkt Cap: 6,695m
- Published:
18 Dec 2019 -
Author:
Véronique Cabioc'h -
Pages:
3
Pearson has just announced the resignation of its CEO John Fallon as well as the disposal of its remaining 25% stake in Penguin to Bertelsmann (for $675m net; the whole entity valued at $3.67bn). £350m will be returned to shareholders through a share buy-back in early 2020. After a number of profit warnings and contests regarding his remuneration, a number of shareholders had asked for John Fallon’s resignation in the past. This can be read as a forthcoming new era for the group.<