Chairman of Pearson quits after associating with investors over chief exec’s lavish pay packet
Pay row: Pearson’s chairman Sidney Taurel is slipping down
Pearson’s chairman is exiting after clashing with investors over that the lavish pay packet given to its own chief executive.
Sidney Taurel’s decision to quit comes following the instruction writer suffered an embarrassing outsider revolt over its choice to provide manager Andy Bird — that had been appointed annually — around 5.9million in annual pay, a’golden hello’ worth #7million along with a second #185,000 to proceed towards the leasing of a apartment in ny.
The bundle triggered a backlash among investors, who said that it had been overly generous and whined of being’held to ransom’ by the business.
Taurel said he intended to stop no later compared to the corporation’s 20 22 annual general meeting.
The 72-year-old said it was his intention to resign and it had been’exactly the ideal time to run a search to get a brand new seat’.
Advisory services ISS and Glass Lewis both advocated shareholders to oppose Bird’s package.