You are viewing your 1 free article this month. Login to read more articles.
Abbosh appointed Pearson chief executive officer as Bird announces retirement
Pearson has appointed Omar Abbosh as chief executive officer and executive director, effective from early 2024, following current c.e.o. Andy Bird’s decision to retire.
Abbosh is currently president of Microsoft’s Industry Solutions business. Prior to Microsoft, he spent three decades at Accenture in numerous senior leadership roles, including chief strategy officer and ultimately as chief executive. He also serves as a member of the board of Zuora.
Omid Kordestani, chair of Pearson, said: “On behalf of the board and the Pearson team, I would like to thank Andy for his outstanding leadership over the last three years. Andy has implemented an ambitious vision and strategy for the company and has successfully transitioned Pearson into a consumer-focused business, orientated around lifelong learning. He has driven substantial cultural and organisational change and delivered consistently strong financial performance. With Pearson on firm foundations and with a trajectory for growth, Andy feels now is the right time to hand the reins to a successor.
"The board is delighted, having conducted a thorough selection process, to appoint Omar Abbosh as our new chief executive. Omar is an inspirational, dynamic and growth-oriented leader with deep commercial, technology and operational expertise focused on delivering high-quality services and products across diverse markets and customer sets. He has extensive experience in creating and executing strategies to enable companies to harness technology and succeed in a world of disruptive change. He shares our values and our ambition and has a strong track record of execution. The board and I look forward to working with Omar as we accelerate our strategy and continue to deliver value for all our stakeholders.”
Abbosh said: “I am honoured to have been appointed as the next chief executive of Pearson. The company is at an exciting stage of its growth journey in markets that are increasingly digital. I look forward to building on the strategic growth opportunities, along with the leadership team, placing Pearson in the vanguard of lifelong learning. Education and learning are fundamental to help people progress through their lives and I am thrilled to work with our customers and partners to build on Pearson’s heritage and deliver on the next chapter for all our stakeholders. This is a truly vital mission.”
Bird said it had been an “enormous privilege” to lead Pearson through a period of significant change over the last three years. “The business is now firmly established as a digital-first learning company, with technology driving significant growth. It is re-focused around the learner and lifelong learning, with a stronger culture and increased emphasis on accountability and execution. We are well positioned for future growth with a clear vision and a strong management team to deliver it. I am confident that Omar has the right skill set and experience to take Pearson forward,” he said.
Pearson revealed Abbosh will receive an annual base salary of £1,000,000 and an annual cash allowance of 16% of base salary in lieu of pension. Pearson will compensate Abbosh for remuneration he will forgo as a result of resigning from his current role on a like-for-like basis. This will consist of a cash payment in lieu of his annual bonus expected to be £249,050. The remuneration arrangements in relation to Andy Bird’s departure from Pearson will be disclosed at a later date.
