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Freestone to step down as Pearson CFO

ROBIN FREESTONE, the chief financial officer of Pearson, is to step down after ten years with the education and publishing company.

Freestone, who chairs the influential Hundred Group of Finance Directors, will leave the publisher of the Financial Times by the end of 2015 to “explore a range of other interests”, the company said.

The announcement came as the group reported a 1% increase in sales for the first nine months of the year, while its restructuring programme continues apace with full year net restructuring costs of approximately £50m in 2014.

Freestone joined Pearson in 2004 as deputy CFO and became chief financial officer in 2006. He sits on the advisory group of the ICAEW’s financial reporting faculty and also sits on the CBI’s economic growth board.

“It’s been a tremendous privilege to help…build Pearson into the world’s leading learning company. Following a decade of rapid evolution and change, Pearson is well positioned to succeed in 2015 and beyond. I am very proud of the work I’ve done with colleagues to support the learners and teachers we serve, our employees and our shareholders,” Freestone said.

“I feel that eight years as CFO is long enough for anyone to play this type of role. I am focused now on delivering our financial commitments in 2014 and developing our 2015 plans, supporting Pearson and my board colleagues in their search for a successor, and facilitating the arrival and induction of that person. After that I look forward to beginning a new phase of my career.”

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