New Pear­son chief to re­main in LA

The Daily Telegraph - Business - - Front Page - By Lucy Bur­ton and Si­mon Foy

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.

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