Pearson Boss Shows Restraint With GBP9.6 Million Pay Deal -Guardian

Date : 03/24/2012 @ 8:54AM
Source : Dow Jones News
Stock : Pearson, (PSO)
Quote : 8.13  0.11 (1.37%) @ 3:59PM

Pearson Boss Shows Restraint With GBP9.6 Million Pay Deal -Guardian

Pearson (LSE:PSON)
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Pearson PLC (PSON.LN) Chief Executive Marjorie Scardino took home GBP9.6 million in cash and shares last year, making her Britain's highest paid woman director of a FTSE 100 company, The Guardian in London reported Saturday, citing the publishing group's annual report.

The remuneration package comes despite fraught relations with staff at some of the group's operations, including the Financial Times, where journalists this week called off planned strike action.

In the group's annual report, published Friday, directors of the company claimed Scardino had shown pay restraint designed to reflect "the action that continues to be taken across the company to control costs."

Scardino is said to have suggested it would be inappropriate to receive an increase in basic salary, the newspaper reported.

She did, however, take home almost GBP2.5 million in basic salary, benefits and annual bonus. That also includes a long-standing contribution to "housing costs" for the U.S.-born CEO, although she is now a British citizen who has been based here for many years, the newspaper said.

In addition, Scardino also received GBP644,500 in cash in lieu of pension contributions and received shares worth GBP6.5 million from long-term awards.

Scardino is one of just five woman leaders of FTSE 100 companies and one of the longest-serving executives in the blue-chip index.

Pearson shares have easily outperformed the FTSE 100 in recent years, rising more than 50% over the past five years, compared with a 10% fall in the index, the paper said.

Newspaper Web site: http://www.guardian.co.uk

-London Bureau, Dow Jones Newswires; +44 (0)20 7842 9269




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