December 18, 2019 / 7:12 AM / a month ago

Pearson sells stake in Penguin Random House, CEO to depart

LONDON, Dec 18 (Reuters) - British education company Pearson said on Wednesday it would sell its remaining 25% stake in publisher Penguin Random House to partner Bertelsmann, generating net proceeds of about $675 million.

The group also said Chief Executive John Fallon would retire in 2020 once a successor had been appointed. (Reporting by Paul Sandle; editing by Sarah Young)

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