PEARSON, the British based media group has decided to appoint as new chief executive a 49 year old American, Ms Marjorie Scardino, who currently holds the same position at The Economist Group, it said yesterday.

Pearson, the owner of the Financial Times newspaper, said that Ms Scardino would replace its current chief executive, Mr Frank Barlow, at the end of this year.

The company also said that non executive director Ms Dennis Stevenson had been appointed deputy chairman, and would take over as chairman from Michael Mr Blakenham in May next year.