Business
Results of 2021 AGM - Update Statement
Results of 2021 AGM - Update Statement.
About this update from Pearson Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7536Q\n Pearson PLC\n 29 October 2021\n \n \n \n \n \n \n \n PEARSON PLC\n \n \n RESULTS OF ANNUAL GENERAL MEETING ON 30 APRIL 2021 - UPDATE STATEMENT\n \n \n \n \n \n In accordance with the UK Corporate Governance Code, Pearson plc (\"Pearson\" or the \"Company\") is providing this update on its ongoing engagement exercise following the outcome of the Annual General Meeting on 30 April 2021, where a significant minority (37.25%) voted against the Company's remuneration report and shareholders opposed the motion \n to authorise holding general meetings on 14 clear days' notice. \n \n \n \n \n \n Prior to the Annual General Meeting, Pearson engaged extensively with shareholders as well as the proxy voting agencies, in particular in relation to Andy Bird's remuneration package. In light of the outcome and given the Company's commitment to an ongoing and transparent dialogue with shareholders and their advisers, a further engagement exercise was initiated to discuss how Pearson can continue to engage constructively with shareholders and their advisers. \n \n \n \n \n \n To date, these conversations have highlighted the importance of the Remuneration Committee's assessment of the performance underpins attached to the co-investment award granted to Andy Bird, the first tranche of which is due to vest following 31 December 2021. These performance underpins are intended to guard against payment for failure and, as disclosed in the remuneration report of Pearson's 2020 Annual Report, it is the Committee's intention that in assessing these a thorough and robust process will be followed which considers a holistic view of the wider stakeholder experience, including the experience of shareholders, employees, learners, and educators. Full disclosure of the Remuneration Committee's deliberations in this regard will be provided in next year's remuneration report. \n \n \n \n \n \n In addition, conversations have focused on forward-looking executive remuneration arrangements, in particular both short- and long-term performance measures. In line with typical practice, the Remuneration Committee intends to review performance measures ahead of 2022, to ensure these remain aligned to the Company's strategy. The Remuneration Committee remains mindful of the increasing...