British publisher Pearson to get new CEO

LONDON (AFP) - British publisher Pearson, owner of the Financial Times newspaper, said on Wednesday that chief executive Marjorie Scardino will step down later this year, ending her 16-year tenure.

"Marjorie Scardino has decided to step down as Pearson's chief executive at the end of 2012," the group said in a statement.

"John Fallon will succeed her as chief executive on Jan 1, 2013, and joins the Pearson board with immediate effect."

Mr Fallon, 50, has been head of Pearson's international education division since 2008. Prior to that, he was head for the group's Europe, Middle East and Africa unit since 2003. Dame Marjorie Scardino, 65, became the first woman to head a FTSE 100 company when she joined Pearson on Jan 1, 1997.