LONDON: The outgoing boss of Pearson hailed the success on Wednesday of his lengthy and often painful battle to rebuild the education group for a digital generation after Covid-19 accelerated the switch to online learning.
John Fallon, who issued a string of profit warnings as students moved from expensive textbooks to digital learning, said the company would not have been able to cope with the rapid shift online during the pandemic had it not previously prepared.
The group’s performance was boosted by a 32% jump in global online learning in its third quarter.
“The last few years have been hard for our shareholders and everybody involved but we have stayed true to our purpose,” he told reporters. “The future of learning is digital and as you can see from these trends, Pearson is going to play a very very big part in it.” Pearson’s shares rose 3% in early trading.
