Sidney Taurel, former c.e.o and chairman of pharmaceutical firm Eli Lilly, has been appointed as Pearson’s new chairman.
Taurel takes the place of Glen Moreno who steps down at the end of this year (31st December 2015) after more than a decade in the role, orginally announced at Pearson’s a.g.m in April.
Taurel - praised by both his predecessor and Pearson chief executive John Fallon and for his knowledge of global markets, particularly North America - was chief executive of Eli Lilly from 1998 until 2008, where he remains a chairman emeritus. He is a board director and chairman of the Compensation Committee at both IBM Corporation and McGraw Hill Financial Inc; a senior advisor at global investment bank Moelis & Co; and an advisory board member at pharmaceutical firms Takeda Pharmaceutical and Almirall.
Moreno said: “We are delighted to have in Sidney a new chair with strong experience of global business and markets, used to leading in a complex regulatory environment. Our search process, led by Pearson’s senior independent director Vivienne Cox, has identified a business leader in tune with Pearson’s values and culture.
“I am very pleased to be handing over to Sidney, a decade after joining the Pearson board myself. It has been a true privilege to be involved with Pearson’s evolution into the world’s leading learning company, and I wish all of my colleagues every success with the company’s future growth.”
Taurel described it as an "important time" to be joining the world-leading education company. Pearson sold the Financial Times to Nikkei in July and its stake in the Economist in August to focus on its global educational strategy.
Taurel said: "Pearson has a great purpose at its heart – to help more people progress in their lives through learning.
“I am looking forward to helping the Pearson management team develop our strategy and deliver long-term value for our students, customers and our shareholders.”
Fallon added that Moreno had been a "great guide and support to me" as Pearson tackled cyclical issues in some of its markets and planned for the next phase of Pearson's growth. "Glen has helped us transform Pearson over the past decade, and we wish him every success in the future," Fallon said.