All Change At The FT After Management Reshuffle

A senior-level shake-up at newspaper publisher Pearson has made Rona Fairhead chief executive of the Financial Times Group, amid rumours that she is being groomed to take over from Marjorie Scardino, chief executive of Pearson, in the future.

Of her new role, Fairhead simply said: “It is a real privilege to take on some of the finest brands and services in the world of business information.”

Fairhead succeeds Olivier Fleurot who moves across to Pearson, where he will develop strategies for digital technology across the company’s publishing and information sectors.

Scardino praised Fleurot, saying: “For the past four years, everyone has worked tirelessly to return the FT to profit. Olivier deserves much of the credit for doing what was needed to accomplish that.”

In the reshuffle, John Ridding returns from his post as editor of the FT in Asia, to take up the position of chief executive of both the Financial Times and FT.com, under Fairhead’s leadership.

Says Scardino: “Today, each part of the FT Group has a strong market position and good prospects for continued growth. In addition to sustaining that momentum and building these businesses, Rona will be looking for opportunities to make the most of the FT Group as a whole. Rona and John have achieved a great deal at Pearson and we’re delighted that they are taking on these new roles.”

Fairhead will also have responsibility for links with associate companies including FTSE, owned jointly with the London Stock Exchange, and The Economist Group, in which Pearson owns a 50% stake.

Pearson’s deputy chief financial officer, Robin Freestone, takes a step up the ladder to take the position of chief financial officer left vacant by Fairhead. He also joins the board of Pearson.

In April Pearson reported an upturn in profits, with FT ad revenue rising (see FT Looks Toward Profits As Pearson Performs Well). And April’s ABC figures saw a 8.3% increase in circulation for the FT, a month when circulation fell for all but two quality broadsheets (see ABC National Newspaper Round-Up: April 2006 ABC National Newspaper Round-Up: April 2006 ).

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