Dec 18 John Ridding has been appointed chief
executive officer of the Financial Times Group, parent of the FT
newspaper, succeeding Rona Fairhead who is leaving the company.
Ridding is currently the CEO of the FT newspaper and will
step into his new role effective Jan. 1.
The announcement was made in a staff memo sent by John
Fallon, the incoming chief executive of Pearson Plc,
the company that publishes the pink-hued newspaper.
Speculation has been swirling that Pearson, known largely
for its education business, is looking to exit the newspaper
industry - in part because Pearson CEO Marjorie Scardino is
leaving the company.
Scardino famously said that FT would be sold "over my dead
body." In October, she announced that she is stepping down from
her role as CEO.
Pearson also announced in October it was to merge its
Penguin Books unit with Bertelsmann's Random House to create the
world's leading consumer book publisher.
Fairhead is departing the FT Group after losing out to
Fallon who got the top job at Pearson.
Ridding has been CEO of the FT since 2006 and has been with
the newspaper for 20 years.