Preemptive Move Fails, Pearson Shareholders Turn On CEO | HuffPost

May 17, 2017 Education Reform
Preemptive Move Fails, Pearson Shareholders Turn On CEO | HuffPost

On Friday, a large majority of Pearson shareholders, in a non-binding vote, rejected a report granting a large raise and bonuses to corporate CEO John Fallon. This was the largest vote of no confidence in corporate leadership, a 61% no vote, in Great Britain since 2009. Fallon’s salary, bonus, incentives, and other benefits, went up by 20% last year to almost $2 million, despite record corporate loses and steep declines in the value of Pearson stock.In a preemptive effort to manipulate stock prices on the London Exchange prior to the shareholders meeting, Fallon announced Pearson planned to sell off its North American textbook business and other school “products’ like envision Math and iLit. Unfortunately for America’s children, Pearson plans to continue to invest in online “virtual schools,” and high-stakes testing.

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