Pearson shake-up puts women in charge

Pearson, the media group, yesterday shook up its senior management by parachuting John Makinson, its finance director, into the top job at its book division Penguin.

The reshuffle also confirms Pearson's position as the most female-dominated FTSE 100 company. Rona Fairhead, currently deputy finance director, will replace Mr Makinson, making Pearson the only major UK company with a female chief executive and finance director.

Mr Makinson will become chairman and chief executive of Penguin from June. The move represents a return to Mr Makinson's roots as an editor and journalist.

It will also pitch him more directly against Peter Jovanovich, chairman and chief executive of Pearson's education business. Both are considered likely successors to Marjorie Scardino, Pearon's chief executive, and both will now have their own divisions to manage and prove themselves in. Mr Jovanovich will also join the board in June.

Ms Scardino said: "John is a tough act to follow but Rona is one of the few people who could do it."

Mr Makinson, who has been finance director for six years, has in the past two years been criticised by analysts over the way Pearson has accounted for acquisitions and investments.

The company dampened fears of more bad news from the world of publishing, saying trading remained in line with forecasts after a tough year hit by tumbling revenues and the global economic slowdown.

But it was cautious about the prospects of future growth. The company said that Penguin was trading in line with expectations. But analysts have been disappointed by the performance of its children's book publisher, Dorling Kindersley, and remain sceptical about prospects for a recovery in the short term.

Mr Makinson replaces David Wan, who is stepping down from Penguin to take up a new role as chief executive of Harvard Business School Publishing in June.