Having had to issue a string of profit warnings between 2012 and 2020, education company Pearson has been busily reinventing itself in recent years, with some success. The purveyor of university textbooks has converted itself into a digital-first business. In a trading update in March 2021, less than half a year into the turnaround, CEO Andy Bird noted: “We no longer buy CDs; we listen to Spotify. We no longer buy DVDs; we watch Netflix. How we learn is also changing, driven by technology and new consumer habits.” Under the leadership of the former Disney executive, who joined in October 2020, Pearson has started to see digital sales growth and improved margins. A key factor in the FTSE 100 company’s recovery has been its ability to persuade key stakeholders to back its rejuvenation plan. It was telling that the same trading update featured a contribution from Amazon CEO Andy Jassy, who at the time was in charge of Amazon Web Services, Pearson’s cloud partner. “There are a lot of companies who talk about transformation, but not all of them succeed. Fortunately for us, Pearson really gets it,” he said, adding that the firm had “made a ton of progress”. […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
