16th Dec 2021 10:03
Pearson PLC - London-based educational publisher - Hires former Google senior executive Omid Kordestani as non-executive director and chair designate. Kordestani will join the Pearson board on March 1 and replace Sidney Taurel as non-executive chair at the annual general meeting in April. Taurel steps down after six years in post. Kordestani was chief business officer at Google, part of Alphabet Inc. He also was executive chair of Twitter Inc for five years and continues to serve on the Twitter board. Additionally, Pearson promotes Senior Independent Director Tim Score to deputy chair, also from the AGM. Score was chief financial officer of semiconductor firm Arm Holdings PLC.
Pearson says it remain on track for 2021 adjusted operating profit in line with market expectations. At its nine-month update in October, Pearson placed these expectations at GBP377 million. This would be up from GBP313 million in 2020, but still far lower than the GBP581 million achieved in 2019.
Current stock price: 582.20 pence, up 1.8%
Year-to-date change: down 14%
By Tom Waite; [email protected]
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