David Wan Appointed Penguin Group President

Posted on January 5, 2000

David Wan, Chief Financial Officer of the Penguin group, Pearson plc's consumer publishing business, has been appointed to a new role as President, responsible for the business operations, financial performance and strategic development of the Penguin Group, effective immediately. Mr. Wan's appointment follows the announcement that Penguin group Chairman/CEO Michael Lynton is to leave the group later this month to join America Online Inc. as President of its international operations.

Mr. Wan will report to Marjorie Scardino, Pearson plc's chief executive, and work closely with the chief executives of Penguin's three primary operating companies - Phyllis Grann, of Penguin Putnam Inc., Anthony Forbes Watson, of Penguin UK, and Peter Field, of Penguin Australia, New Zealand, South Africa and India.

Marjorie Scardino, chief executive of Pearson plc, said: "Michael Lynton leaves the Penguin group in good creative and commercial health. 1999 has been a strong year in terms of sales and profits, best-selling titles and literary awards. Michael is the first to acknowledge that he shares the credit with a highly talented management team, a company full of very able and creative people and the best slate of authors in the business."

David Wan said, "I am delighted to have the chance to lead the Penguin group at what is an exciting time for consumer publishing worldwide. Penguin's publishing platform of new and established authors is stronger than it has been for many years and we aim to build on that. We also aim to continue to expand the power and reach of the Penguin brand and capitalize on the technology revolution that is transforming the way books are produced and sold."