29th Jul 2005 08:52
Pearson PLC29 July 2005 29 July 2005 PEARSON NAMES NEW CHAIRMAN:GLEN MORENO, DIRECTOR AND FORMER CHIEF EXECUTIVEOF FIDELITY INTERNATIONAL, TO SUCCEED DENNIS STEVENSON Pearson today announces the appointment of Glen Moreno as its new chairman. Theappointment will be effective from 1 October 2005, when Dennis Stevenson willretire from the board. Glen Moreno, 62, is the senior independent director of Man Group plc and hasbeen a non-executive director there since 1994. He is a director of FidelityInternational and chairman of its Audit Committee. He is also trustee to ThePrince of Liechtenstein and Liechtenstein Global Trusts. From 1987 to 1991 he was chief executive of Fidelity International, one of theworld's most successful investment and financial information companies,recruited to lead its international expansion. Before that, he spent 18 years atCitigroup in Europe and Asia. Dennis Stevenson said: "The Nominations Committee, led by our senior independentdirector Terry Burns, set out some clear criteria for our new chairman. We werelooking for someone with experience of building businesses, a trulyinternational perspective and an empathy with our culture. Glen scores veryhighly on all counts and I'm delighted to hand over to him. Pearson is a veryspecial company and it has been a great privilege to play a part in itsdevelopment." Glen Moreno said: "I've followed Pearson for many years, watching withadmiration as Marjorie and the team transformed it from a diverse conglomerateinto a world-leading information company. I've been impressed by the experienceand dedication of the people there, and by the strong growth that they areproducing. I'm looking forward to working with Marjorie and the team to delivervalue to customers and shareholders." Marjorie Scardino, chief executive, added: "We've been very fortunate to have achairman with Dennis' wisdom, intellectual curiosity, business sense andcommitment to Pearson's values. Glen's record in growing businesses is perfectfor this stage of Pearson's development, and we're thrilled to welcome him toPearson." Ends More information: Luke Swanson/ Charlotte Elston + 44 (0) 207 010 2310 Glen Moreno: biographical notes Citigroup, 1969 - 1987Over an 18-year career, Moreno held senior positions at Citigroup in Europe andAsia. During that period Citigroup became the leading international bank inEurope, developed a significant Australian business and expanded in South EastAsia and India. In the early 1980s he moved to London as a member of Citigroup'sPolicy Committee and as group executive for investment banking, responsible forcorporate finance and trading operations. Fidelity International, 1987 - 1991Moreno was recruited by Fidelity's owner Ned Johnson to lead the company'sprogramme of international expansion. With his successor, Barry Bateman, helaunched the company's hallmark global product range, Fidelity Funds. Current rolesSince retiring as chief executive of Fidelity International in 1991, Moreno hasheld a number of roles in large international businesses. He remains a directorof Fidelity International, and chairs its Audit Committee. He has been a non-executive director of Man Group plc, the FTSE100 financialservices group, since 1994, and is now the senior independent director. There hewas involved in the successful demerger of Man's traditional commodities tradingbusinesses to focus on investment management and brokerage. He is a trustee to The Prince of Liechtenstein and Liechtenstein Global Trusts,which combines the family's banking and investment activities. LGT is asuccessful private banking and wealth management business in Europe, the MiddleEast and Asia. He is also a governor of The Ditchley Foundation, founded in 1958 to advanceAnglo-American links, which has since broadened to involve nations from all overthe world. An American national, he divides his time between the US and the UK. Other details Born: 1943, California Education: 1965 Stanford University BA with distinction 1966 Delhi University Rotary Foundation Fellow 1969 Harvard Law School JD This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Pearson