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Two-thirds of Pearson shareholders reject remuneration report at AGM
May 5, 2017 / 1:21 PM / in 7 months

Two-thirds of Pearson shareholders reject remuneration report at AGM

LONDON, May 5 (Reuters) - Two-thirds of Pearson shareholders symbolically rejected its remuneration report at the publishing firm’s annual general meeting on Friday, making clear their disapproval of the company’s performance in the last year.

The education group earlier on Friday said it would cut more costs and put its U.S. school publishing unit up for sale, sending its shares up 12 percent.

However, the stock is still down on the year as it battles to revive a business that has been undermined by the move to digital learning.

Pearson Chief Executive John Fallon received a 20 percent pay rise in 2016.

In all, 66 percent of the shareholder vote rejected the remuneration report in a non-binding poll. In a separate, binding vote, 31.5 percent rejected the remuneration policy.

Pearson’s chairman said after the vote he would continue discussions with shareholders. (Reporting by Kate Holton, writing by Alistair Smout, editing by Paul Sandle)

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