After 16 years as acting CEO of Pearson, the education development company, Marjorie Scardino tendered her resignation to take effect at the end of the year, according to the company’s press release. She will be replaced by John Fallon, who has been a chief executive in Pearson’s International Education division since 2008 and will take over the position Jan. 1 of next year.
During Scardino’s tenure as CEO, the company has seen triple sales growth and had record profits in 2011.
“For more than 160 years, Pearson has stood for integrity, quality and business strength,” she said in the press release. “It has been a privilege to be part of such a great company for a small part of its history.”
Although it will be nearly three months before Fallon is officially acting CEO, the company immediately placed him on its executive board.
Fallon first joined the company in 1997 then was appointed to the President of Pearson Education Inc. in New York. He was later named CEO of Pearson’s education projects in for Europe, Middle East, and Africa (EMA).
“I am proud to be part of the company; it is a tremendous honor and responsibility to be asked to lead it,” Fallon said in the release.