New Pearson chief to remain in LA
THE new boss of publisher Pearson is to continue living in Los Angeles, despite an eight-hour time difference with its London HQ.
Former Disney executive Andy Bird has been told he can remain based in California after taking charge of the business behind GCSE and A-level exams in October, when he will replace longstanding boss John Fallon.
Mr Bird will get a “golden hello” worth $9.3m (£7.1m), and Pearson will contribute towards the rental costs of a New York apartment for business use so he can split his time as needed.
Roddy Davidson, Shore Capital media analyst, said that while in principle he would prefer the chief executive to be full-time in the
UK, the US was Pearson’s largest market and the move could help attract American investors.
Mr Bird, who ran the international arm of Walt Disney, began his working life answering phones for the British radio DJ Timmy Mallett.
He will get $9.3m of shares after buying $3.75m of stock. He will be paid a maximum of $7.7m a year.