Appendix: Curriculum vitae
Rona Fairhead's CV
NON-EXECUTIVE POSITIONS
2014 - Present HSBC
North America Holdings
(Total Assets $300+ bn)
Chairman
2004 - Present HSBC
HOLDINGS plc
(FTSE 10)
Non-Executive Director
Member of Nomination Committee
Chairman of Financial System Vulnerabilities
Committee
Former Chairman of Group Risk and
Audit Committees
2014 - Present PEPSICO
INC
(S&P 30)
Non-Executive Director
Member of the Audit Committee
2010 - Present UK
CABINET OFFICE
Non-Executive Director
Chairman of Audit and Risk Committee
2005 - Present ECONOMIST
NEWSPAPER GROUP LTD -
50% Pearson-owned
Non-Executive Director
2007 - 2010 INTERACTIVE
DATA CORPORATION -
NYSE-listed
Chairman
EXECUTIVE CAREER SUMMARY
2001 - 2013 PEARSON
plc
2006
- 2013 Chairman & CEO, Financial Times Group
2002 - 2006 Group Finance
Director
2001
- 2002 Deputy Finance Director
1996 - 2001 IMPERIAL
CHEMICAL INDUSTRIES plc
1998
- 2001 EVP, Strategy and Group Financial Control
1997 - 1998 EVP, Planning
and Communications
1996
- 1997 Director, Planning and Acquisitions
1991 - 1996 BOMBARDIER
INC
1994 - 1996 General Manager,
Bombardier Aerospace Services
1991 - 1994 EVP, Strategy
and Communications—Short Brothers
1990 - 1991 BAE
SYSTEMS plc
Independent Consultant
1989 - 1990 and BAIN
& CO. INC
1983 - 1987 Senior
Consultant
1988 MORGAN
STANLEY INC
Summer
Associate
AWARDS and EDUCATION
2012 QUEEN'S
AWARD
Commander of the Order of the British
Empire (CBE)
2012 ST
CATHARINE'S COLLEGE, CAMBRIDGE
Honorary Fellow
2011 UNIVERSITY
OF TEESSIDE
Honorary Doctorate
1987 - 1989 HARVARD
BUSINESS SCHOOL
MBA
1980 - 1983 ST
CATHARINE'S COLLEGE, CAMBRIDGE
MA Law (First)
1972 - 1979 YARM
GRAMMAR SCHOOL, TEESSIDE
(now Conyers School, Yarm)
OTHER
BRITISH
BUSINESS AMBASSADOR Prime
Ministerial Appointment
CBI
President's Committee
CHEMICAL INDUSTRY ASSOCIATION
Council Member
SOCIETY OF BRITISH AEROSPACE
COMPANIES
Council Member
LAGANSIDE CORPORATION
Non-Executive Director
PERSONAL
Date of birth: 28
August 1961
Nationality: British
Status: Married
with three children
EXECUTIVE CAREER DETAILS
2001 - 2013 PEARSON
plc
2006 - 2013 Chairman and
CEO, Financial Times Group
In 2006 the FT Group was a disparate
collection of businesses with limited synergies and highly uncertain
prospects. We rationalised and re-shaped the portfolio making
the remaining core into sustainably profitable global businesses
(2011 Sales £ 427m, Profit £79m).
· Transformed
the Financial Times from an advertising and print based business
into an innovating, content-led, multi-channel subscription-based
business. We invested to retain editorial excellence and global
reach. We also acquired bolt-on businesses to enhance selected
niches e.g. Money-Media and Medley Global Advisers. We focused
on enhancing operating efficiency and turned its financial performance
from losses to profitability despite global recession and structural
industry decline
· Acquired
and grew Mergermarket to become a major source of FT Group profits.
Developed innovative new products e.g. Debtwire ABS, Pharmawire,
and expanded globally in Asia-Pacific Latin America and the Middle
East to grew sales by 80+% ( 2007-2011) despite financial crisis.
· Expanded
The Economist - grew US print and digital subscriptions to 1.5m
+, enhanced the EIU and developed the US-based government and
regulatory intelligence businesses.
· Exited
local language business newspapers:
· Sold
Les Echos in 2007 (2006 FY Sales £86m, Profit £5m) for
Euro 240 million over-coming and addressing significant Works
Council objections.
· Disengaged
from the loss making FT Deutschland by selling to the joint venture
partner.
· Recognised
that Interactive Data Corporation, then 60% owned by Pearson and
independently listed on NYSE, would have greater growth potential
and thus greater value under different ownership. Initiated and
negotiated the sale for $3.4 billion to Warburg Pincus and Silverlake
· After
exploring several strategic options for our JV business, FTSE,
sold the group's 50% interest in 2011 to our partner, LSE, for
£450 million (Our share of 2011 profit £21m).
· Assumed
responsibility for Pearson's Vocational & Professional Education
in 2008. Almost doubled sales and more than doubled profits by
2011.
2002 - 2006 Group Finance
Director
2001 - 2002 Deputy Finance
Director
Immediate tasks were—internally—to
address the balance sheet weakness (through improving cash generation
and return on invested capital) and address operational performance,
to improve management information and financial processes and
to raise the profile, calibre and influence of the Finance function.
Externally the key task was to restore investors' confidence following
the damaging deeply discounted rights issue and questioning of
the integrity of our accounts.
We successfully engaged the Pearson
teams in focussing on these priorities: rebuilt the balance sheet
providing the resources for further acquisitions, established
discipline in capital allocation, began a drive for continuous
improvement in our operating cost base to allow for sounder investment
decisions. We transformed Pearson from a loosely managed portfolio
of businesses into a company whose businesses shared the same
mission and operations wherever appropriate. Finance was restructured
and became the business partner.
In the second phase, we invested boldly
through internal investments in digital technology, emerging markets
and bolt-on acquisitions. We also continued the portfolio rationalisation
with the sale of Recoletos for £500m.
1996 - 2001 IMPERIAL
CHEMICAL INDUSTRIES plc
1998 - 2001 EVP, Strategy
and Group Financial Control
1997 - 1998 Division EVP,
Planning and Communications
1996 - 1997 Division Director,
Planning and Acquisitions
I joined ICI with a strategy remit
and assumed greater and greater responsibilities including Mergers
and Acquisitions and Finance and Control with a view to succeeding
the Group Finance Director. Additionally I became a trustee of
the ICI pension fund (liabilities of £7bn) and Chair of the
Investment Committee. I also represented ICI as a board member
of the Chemical Industry Association (CIA).
Key achievements included the $8bn
acquisition of Unilever's specialty chemicals businesses, the
disposal of our petrochemicals and other non-core heavy chemicals
businesses. I was also instrumental in enhancing the operating
performance and organisation of the businesses.
1991 - 1996 BOMBARDIER
INC
1994 - 1996 General Manager,
Bombardier UK Aerospace Services
1991 - 1994 EVP, Strategy
and Communications, Bombardier Short Brothers
I joined Bombardier in Northern Ireland
Short Brothers to help develop the business's strategy post privatisation.
I worked closely with Head Office in Montreal and assumed responsibility
for Communications, M&A and programme oversight. I was promoted
into general management with full P&L responsibility for the
UK services business (sales £200 million, 1,500+ employees).
Grew the business dramatically winning contracts in Oman and
throughout the UK.
1990 - 1991 BAE
SYSTEMS plc
Independent Consultant
Helped to develop strategy for new
business operation in Aerospace Services
1989 - 1990 BAIN
& CO. INC.
Senior Consultant
Led and/or participated in multiple
assignments for key clients in Beverages, Financial Services and
Manufacturing. Primary focus on productivity improvement, organisational
rationalisation and product strategy.
1988 MORGAN
STANLEY, New York and London
Summer Associate
Summer internship whilst at Harvard
Business School. Primary assignment on business swap in aerospace
and mass transit sector.
1983 - 1987 BAIN
& CO. INC, London, Paris and Munich
Consultant
Joined as Research Associate and first
promotee to Consultant through Consultant-in-Training programme.
Worked in Paris, Munich and London offices. Worked with clients
in Manufacturing, Information Technology, Financial Services and
Beverages.
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