Pearson’s boss got a bloody nose when shareholders protested against the big pay
Pearson’s boss suffered a bloody nose yesterday when shareholders protested against the big pay.
In another major setback for the FTSE 100 education publisher, 30 percent of investors voted against the company’s pay policy.
It was the fourth year in a row that shareholders revolted against boardroom pay.
Omar Abbosh, a former Microsoft executive who started in January, could earn as much as £8.5m a year if his £1m salary is topped up with bonuses and other rewards.
He was also handed a £13m golden hello when he took over from Andy Bird.
Protest: Omar Abbosh could earn as much as £8.5m a year if his £1m salary is topped up with bonuses and other rewards
A Pearson spokesperson said yesterday after the vote that the company is committed to building a pay policy that allows it to “remain competitive in the global talent market.”
It comes amid a debate over whether top British executives are underpaid compared to their American counterparts.