Financial Times owner and educational products firm Pearson has said that Glen Moreno intends to step down from the board in the next 12 months, after more than nine years as chairman.
The London-based company said it was trading in line with expectations, with its Penguin Random House division benefiting from more than 40 number one bestsellers.
Mr Moreno said: "The board and I have naturally been working on chair succession planning for several months now, and this is a good moment to formalise the process."
A board committee, headed by senior independent director Vivienne Cox, will select the next chairman.
Shares fell 42p, or three per cent, to 1360p.
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