REG - Pearson PLC - Directorate Change

PearsonAnnouncement

16/12/2021 07:00

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RNS Number : 8148V  Pearson PLC  16 December 2021

Pearson Announces Omid Kordestani as Non-Executive Chair Designate and

Tim Score as Deputy Chair Designate

 

LONDON - 16 December, 2021: Pearson plc today announces the
appointments of Omid Kordestani as a Non-Executive Director and Chair
Designate and Tim Score, Senior Independent Director, as Deputy Chair
Designate. Omid will join the Board from 1 March 2022 succeeding
Sidney Taurel as Non-Executive Chair upon conclusion of the company's AGM in
April 2022. Tim will also take on the role of Deputy Chair upon
conclusion of the AGM.

 

Omid brings significant experience of leading and advising some of the
world's best-known consumer technology brands, which will further Pearson's
ambition to accelerate its digital, lifelong learning strategy. Over his 30
years in Silicon Valley, Omid has played key roles in the growth
and success of internet pioneers Netscape, Google and Twitter.

 

Most recently, Omid spent five years as the Executive Chair of Twitter, Inc.
and continues to sit on its Board. Prior to that, Omid was SVP
and Chief Business Officer at Google, where he also
served as a senior advisor to the CEO and founders during the
transition to Alphabet, Inc. He serves on the Boards of Klarna Bank and Klarna
Holding, and is an Executive Council member at Balderton Capital, which
backs early-stage companies in Europe.

 

Pearson re-affirms it remains on track to deliver adjusted operating profit
for full year 2021 in line with market expectations.

 

Omid Kordestani said: "I believe Pearson has a tremendous opportunity to
help everybody achieve a lifetime of learning. I'm excited to combine
my background leading tech businesses with Pearson's strong sense of purpose
in my role as the new Non-Executive Chair. Together with Tim and the
Board, I look forward to forming a strong partnership with Andy and his
leadership team to help capture the company's enormous growth potential,
and to capitalise on the significant opportunities
in digital learning."

 

Tim Score, Pearson's Senior Independent Director and incoming Deputy Chair,
said: "I am delighted that Omid will be joining as
Chair. His deep tech know-how will serve us well as we enter the
company's next phase of growth. In a thorough and comprehensive process, the
Board was unanimous in its choice to appoint Omid and we look forward to
welcoming him to the team. In addition, I look forward to building a strong
partnership with Omid in my role as Deputy Chair.

 

On behalf of the Board, I would like to thank Sidney for his outstanding
contribution as Chair of Pearson over the last six years. His leadership,
judgement and unstinting dedication have been integral to transforming Pearson
to become a more focused, digital learning company. We wish him all the very
best for the future when he steps down from the Board in April next year."

 

Sidney Taurel, Pearson's Chair, said: "It has been a privilege to serve as
Chair and to oversee Pearson's transformation over the past six years. I am
confident that this great company is well positioned to succeed. I am
delighted to welcome Omid as my successor as he joins the Board at a very
exciting time, congratulate Tim upon his elevation as Deputy Chair, and wish
both of them and the whole company every success going forward."

 

Andy Bird, Chief Executive, said: "Omid has been a driving force behind the
growth of a number of world-changing tech companies. I am
thrilled that he will now be bringing that expertise to Pearson, enhancing
our strategic direction and growth potential. We are seeing good momentum
in the business and are on track to meet market expectations for the year.
Omid will help propel our strategy forward for the benefit of all
stakeholders.

 

I am also delighted that Tim will support Omid as Deputy Chair given his
wealth of experience in UK plc. Together they will be a formidable team."

 

Biography of Omid Kordestani

Omid Kordestani is an international businessman who serves on
the boards of Twitter, Inc., Klarna Bank AB and Klarna Holding AB and is a
Council Member for Balderton Capital. He was Executive Chairman of Twitter,
Inc between October 2015 and May 2020. From August 2014 to August 2015,
Mr Kordestani served as Senior Vice President and Chief Business Officer
at Google and previously from May 1999 to April 2009 as Senior Vice President
of Global Sales and Business Development. From 1995 to 1999, Mr Kordestani
served as Vice President of Business Development at Netscape Communications
Corporation. Prior to joining Netscape Communications Corporation,
Mr Kordestani held positions in business development, product management
and marketing at The 3DO Company, Go Corporation and Hewlett-Packard
Company. Mr Kordestani holds a B.S. in Electrical Engineering from San
Jose State University and an M.B.A. from Stanford University. 

 

Biography of Tim Score

Tim is Senior Independent Director, Chair of the Audit Committee and Member of
the Nomination & Governance and Remuneration Committees at Pearson. He
has extensive experience of the technology sector in both developed and
emerging markets, having served as Chief Financial Officer of ARM Holdings
plc, the world's leading semiconductor IP company, for 13 years. He is Chair
of The British Land Company plc and a Non-Executive Director of Bridgepoint
Group. He served on the board of National Express Group plc from 2005 to 2014,
including time as interim Chairman and six years as the Senior Independent
Director. He is an independent director of the Football Association and sits
on the board of trustees of the Royal National Theatre.

 

There is no further information to be declared in accordance with LR 9.6.13.

 

- ENDS -

Contacts

 

Investor Relations Jo Russell +44 (0) 7785 451 266

Media Tom Steiner +44 (0) 7787 415 891 / Gemma Terry +44 (0) 7841 363
216

Teneo UK Charles Armitstead +44 (0) 7703 330 269

US Media Scott Overland +1 (202) 909 4520

 

Forward looking statements: Except for the historical information contained
herein, the matters discussed in this statement include forward-looking
statements. In particular, all statements that express forecasts,
expectations and projections with respect to future matters, including trends
in results of operations, margins, growth rates, overall market trends, the
impact of interest or exchange rates, the availability of financing,
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the risk factors set out in Pearson's latest annual report and accounts,
which can be found on its website (www.pearsonplc.com). Any forward-looking
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undertaking to update forward-looking statements to reflect any changes in its
expectations with regard thereto or any changes to events, conditions or
circumstances on which any such statement is based. Readers are cautioned not
to place undue reliance on such forward-looking statements.

 

 

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