London — Education publisher Pearson has tapped Andy Bird as its next CEO, turning to a media veteran who helped build Walt Disney’s consumer online business to complete its tricky digital transformation.
Bird will replace John Fallon, who cut thousands of jobs and sold off assets in response to a string of profit warnings during his more than seven years in charge of the world's biggest education group. The new CEO will receive a salary of $1.25m, the chance to double that if he hits targets, the opportunity to earn more again if he beats targets, and shares that vest over three years, currently worth around $9.3m.“This talent is very rare and very much in demand.
He will be tasked with returning Pearson to growth after students in the US stopped buying expensive textbooks and started renting or accessing online courseware.
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