Experimental feature

Listen to this article

00:00
00:00
Experimental feature
or

Educational publisher Pearson, which made a £2.5bn loss in 2016, has awarded its chief executive John Fallon a 20 per cent pay rise for the year.

Mr Fallon received total remuneration of £1.5m, up from £1.26m in 2015. Although his base salary was broadly flat at £780,000 – compared £776,000 in 2015 – his total pay out was boosted by an annual incentive award of £343,000. In 2015 Mr Fallon received no incentive payment.

Pearson, which sold Financial Times to Nikkei in 2015 for £844m, has issued 5 profits warnings and seen its shares halve since 2012, when Mr Fallon was appointed chief executive.

In the annual report which was published on Friday, the company said there was a there was a general pay freeze for all senior management “including executive directors” in 2016.

In his statement to shareholders in the annual report, Mr Fallon said “2016 was a tough year for Pearson”.

Copyright The Financial Times Limited 2017. All rights reserved.
myFT

Follow the topics mentioned in this article

Follow the authors of this article

Comments have not been enabled for this article.