Pearson CEO Scardino to step down after 16 years

LONDON, Oct 3 (Reuters) - Marjorie Scardino, the chief executive of publishing group Pearson , is to step down at the end of the year after 16 years in the job, bringing to an end a period of transformational change for the group.

She will be replaced by John Fallon, the chief executive of Pearson's international education division since 2008 and a former head of the group in Europe, Middle East and Africa.

During Scardino's tenure, the group has transformed from a diverse conglomerate of media groups into an education and publishing giant. Sales have tripled to nearly 6 billion pounds and profits grown more than three times to a record high of 942 mmillion pounds in 2011.

(Reporting by Kate Holton)

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