Tue, 09 Oct 2012 | DIVISION SALE
Rumours that the Financial Times newspaper could be put for sale have been sparked by the resignation of the Pearson group's chief executive.
Marjorie Scardino is to step down after 16 years in a move that has come earlier than expected. In doing so, Ms Scardino could clear the way for the Pearson group to sell the FT.
The chief executive, the first woman to hold such a position in a FTSE 100 company, had earlier stated that the paper would be sold “over my dead body”. Now that she has stepped aside, new chief executive John Fallon has taken the reigns and could bring in a new approach.
Speaking to Reuters, analyst Ian Whittaker at Liberum, commented: “Ms Scardino was a big fan of the FT and resisted attempts to sell the business. We see John Fallon as having no emotional commitment to the division.”
The news agency spoke to the incoming executive about his views on the FT: “I very much recognise and value the FT as an important and valuable part of the company.”
Mr Fallon will take up the position at the end of the year after 65-year-old Ms Sardino steps aside after transforming the conglomerate to nearly triple its revenues during her time in control.
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