Proactive Investors - Shares in Pearson PLC (LON:PSON) fell 5% after it announced a change at the top, with Andy Bird having decided to retire and his replacement brought in from Microsoft (NASDAQ:MSFT).
The education group said Omar Abbosh will be its new CEO from early 2024.
Abbosh is president of Microsoft's Industry Solutions business with direct responsibility for driving sales, service and solutions across Microsoft's largest global customers.
Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown (LON:HRGV), said: "Abbosh’s background in various tech leadership positions means the board is doubling down on plans to propel the education specialist into the next – very digital – chapter."
"While legacy declines in physical US course materials continue to be a hurdle that needs clearing, other efforts to drag its offerings online means performance has been steady of late," she added.