October 14, 2020 | technology | No Comments
By Kate Holton
LONDON (Reuters) – The outgoing boss of Pearson hailed the wisdom of his lengthy and often painful battle to rebuild the education group for a digital generation on Wednesday 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.
While group sales fell in the first nine months due to cancelled tests and closed schools, global online learning jumped 32% in the third quarter.
Fallon said while he “owned” the profit downgrades and the shareprice drop – falling more than 50% during his tenure – he said he had also earned the right to ask where the company would be if he had not taken out costs and