REG - Pearson PLC - Result of AGM - Update Statement

PearsonAnnouncement

03/11/2022 09:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221103:nRSC2193Fa&default-theme=true

RNS Number : 2193F  Pearson PLC  03 November 2022

 

 

PEARSON PLC

 

RESULTS OF ANNUAL GENERAL MEETING ON 29 APRIL 2022 - UPDATE STATEMENT

 

In accordance with the UK Corporate Governance Code, Pearson plc ("Pearson"
or the "Company") is providing this update following the outcome of the Annual
General Meeting on 29 April 2022.  Whilst the Board very much appreciated the
support by the majority of shareholders, it was naturally disappointed a
significant minority (23.47%) voted against the Company's remuneration report.

 

The feedback we have received indicates that this outcome continues to reflect
the views held by some of Pearson's shareholders around the structure of the
Co-investment award, which was designed to secure the appointment of the Chief
Executive Officer and voted on by shareholders in September 2020.  The
Company's remuneration report will continue to include detailed disclosure
around the structure of this award as well as the Remuneration Committee's
consideration of the performance underpins. Prior to the vesting of each
tranche of the award, the Committee undertakes a thorough and robust review
process which considers a holistic view of the wider stakeholder experience.

 

This year, the Remuneration Committee is undertaking a comprehensive review of
Pearson's executive remuneration framework ahead of the renewal of the
Directors' Remuneration Policy at the 2023 AGM, in line with the normal
three-year cycle in the UK.  As part of this process, the Committee is
engaging extensively with shareholders.  Pearson would like to thank all
those who have participated in the engagement exercise to date or will do so
in due course. All feedback received is invaluable to the Remuneration
Committee as it develops and refines its proposals.

 

Pearson is committed to having a constructive and positive relationship with
all its shareholders and their advisers and will continue to engage as
appropriate going forward. Full details of the proposed new Directors'
Remuneration Policy and its implementation for 2023 will be disclosed in our
2022 Annual Report.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RAGFSISUDEESEDF