Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

Pearson falls as CEO steps down

Published 20/09/2023, 10:18
© Reuters.  Pearson falls as CEO steps down
MSFT
-
PSON
-

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.

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.