Directors, including senior management, had their pay frozen from April, the report said.Mr Fallon came under fire from investors for failing to anticipate a steep decline in the firm’s sales in the US, which suffered as more students chose to rent books from retailers such as Amazon rather than buying them.He said the business had cut both the short-term outlook for profits and future dividends. Pearson Plc: Andy Bird To Succeed John Fallon As Chief Executive LONDON (dpa-AFX) - Pearson Plc (PSO, PSON.L) announced the prospective appointment of Andy Bird as …

There are no executives at Pearson Plc getting paid more. Sidney Taurel, chairman of the company’s board of directors, is leading the search for the next chief executive. Education and exams giant Pearson today hired a Walt Disney executive on a $10 million-plus pay deal to replace outgoing boss John Fallon, who has battled to turn around the struggling company.Pearson oversees exams in the UK and was last week forced to recalculate the BTec grades it oversees after the government U-turn on re-grading GCSE results.Today it appointed Andy Bird to be its chief executive on a pay deal including an award of $9.7 million of Pearson shares which it said was needed to lure him from the US-style wages he has enjoyed during his career.Bird joined Disney in 2004 and expanded its International division, overseeing its transformation into a "digital-first" organisation focusing on delivering its content direct to people's homes online.Pearson highlighted this element of his career because Fallon has faced a long, uphill battle in turning Pearson from an old-fashioned school and college books publisher into an Internet business.Pearson has found it difficult to find a replacement for Fallon as the Covid crisis made it harder to schedule interviews.Chairman Sidney Taurel praised Fallon's rein and said: "Andy brings a wealth of international consumer experience as well as significant expertise in building brands, transformational change and driving digital innovation.
"Prior to his time at Disney, Bird was a senior executive at AOL Time Warner and was previously at Piccadilly Radio and Virgin Broadcasting Company.Bird was paid a salary and bonuses in the double-digit millions of dollars in the US, which would not have been acceptable in the UK, so Pearson has devised a deal whereby if he buys shares in the group, it will match that over three years.Bird will buy shares worth $3.75 million in return for which Pearson will gift him $9.7 million of stock over three years. Pearson CEO John Fallon today announced plans to retire in 2020 after a successor has been appointed. As the Chief Executive officer and Executive Director of Pearson Plc, the total compensation of John Fallon at Pearson Plc is GBX1,857,000. It will mark the end of a dramatic, and at times tumultuous, tenure for Fallon.

"He saw the opportunities here and got really excited about that," said Taurel.Asked about the school exams fiasco, he said: "It has been a difficult situation for everyone and we feel feally sorry for all the kids anxious to get their grades." Pearson recruits new chief executive in Andy Bird after long hunt to replace John Fallon as exams fiasco rages

Education and exams giant Pearson today hired a Walt Disney executive on a $10 million-plus pay deal to replace outgoing boss John Fallon, who has battled to turn around the struggling company. Fallon’s base salary last year was 780,000 pounds, little changed from a year earlier. {{#singleComment}}{{value}} Comment{{/singleComment}}{{^singleComment}}{{value}} Comments{{/singleComment}} “Clearly, this is disappointing for everyone involved in the company,” he added.The chairman said the company’s goals for the coming year would include running itself more efficiently and reducing its exposure to certain delivery services to focus on its online business.A Pearson spokesperson said Mr Fallon's bonus reflected the fact that the company had achieved its profit guidance and had delivered a "major restructuring", and his pay will also be frozen this year. However, Bird said he wanted a career break and turned down the offer. "After paying tax, and subject to the usual share dealing rules, John Fallon intends to use his full bonus payment to purchase shares in the company," he added.We rely on advertising to help fund our award-winning journalism.We urge you to turn off your ad blocker for The Telegraph website so that you can continue to access our quality content in the future.

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Fallon started his career as a researcher for Labour politician John Prescott in 1988 and became director of communications of Pearson in 1997. What is the salary of John Fallon? The stock will vest according to his performance.His salary will be $1.25 million plus $200,000 in lieu of pension payments.


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