After Missing Revenue Expectations, Pearson Education Names New President

After Missing Revenue Expectations, Pearson Education Names New President

CHANGING THE GUARD: Publishing and assessment giant Pearson Education has a new head honcho. On Friday the company owned by UK-based Pearson PLC announced that Kevin Capitani will replace Don Kilburn as president of Pearson North America.

Capitani, who spent more than 20 years with German software company SAP, will help his new employer “transition from analogue to digital, and from products to services” the education company said in a statement.

Pearson CEO John Fallon added, “As Pearson evolves to becomes ever more digital, offering large-scale solutions to universities and other partners, his experience will be crucial to our long term growth and success.” Kilburn will move into a senior business development role.

The news comes in the midst of challenging times for Pearson. Its shares fell more than 9 percent on Friday after missing analysts’ expectations for the first half of 2016. In January, Fallon announced Pearson would cut 4,000 jobs—10 percent of its workforce—to “simplify the company.” To date the company has notified 3,450 of their employment termination.

Despite missing its goals for the first half of 2016, Pearson maintained its financial forecasts for the remainder of the year.

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