23rd Oct 2020 13:35
(Alliance News) - Pearson PLC on Friday addressed a significant shareholder vote against the re-election of Non-Executive Director Michael Lynton, stating it believes Lynton effectively carries out his duties.
The FTSE 100 publishing and education company noted that while over 20% of shareholders voted against his re-election at the annual general meeting on April 24, around 68% of shareholders voted in support of Lynton.
Pearson stated that while a "significant minority" of shareholders said they voted against his re-election because they believe Lynton has too many non-Pearson commitments including in other listed firms, the company believes he effectively discharges his role as a director.
"Lynton has demonstrated a full attendance record at the Pearson board, and at the committees on which he serves since his appointment in 2018," the company said.
However, it added Lynton has agreed not to stand for re-election at the 2021 annual general meeting should his commitments to other boards remain unchanged.
Shares in Pearson were trading 1.8% lower at 511.40 pence each on Friday afternoon in London.
By Ife Taiwo; [email protected]
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