Marjorie Scardino News
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Pearson Plc Chief Executive Officer John Fallon, who has announced a plan to generate 100 million pounds ($151 million) in cost savings in 2014, told staff at the Financial Times unit yesterday that there will be fewer jobs in the U.S. and U.K. as the publisher focuses on emerging markets, according to a person who attended the meeting.
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Pearson Plc, the publisher of the Financial Times newspaper, predicted operating profit will be stagnant in 2013 as it cuts jobs and spends more quickly to shift its education business to online from print.
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Pearson Plc Chief Executive Officer Marjorie Scardino will step down after 16 years and be replaced by the head of its international education business, spurring speculation the company may sell the Financial Times newspaper.
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Pearson Plc wouldn’t rule out a sale of the Financial Times as Chief Financial Officer Robin Freestone told investors that the company may eventually re- examine its ownership of the newspaper.
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Pearson Plc is planning to explore a sale of the Financial Times newspaper as the company focuses on its faster-growing education business, people with knowledge of the situation said.
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The FTSE 100 Index’s most exclusive club just got smaller.
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Pearson Plc said Rona Fairhead, the head of its Financial Times unit, will leave and step down from the company’s board in April next year.
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Anglo American Plc Chief Executive Officer Cynthia Carroll, the first woman, external hire and non- South African to hold the job, will quit after Anglo lost $14 billion in value in the more than five years she was in charge.
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Pearson Plc is in talks to combine its Penguin book-publishing unit with Bertelsmann SE’s Random House as the media companies seek to bulk up in response to a surge in providers of electronic books.
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Pearson Plc , the owner of the Financial Times newspaper, raised its outlook for 2010 after first-half profit more than tripled on growth in its education business and at book publisher Penguin.
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