Is Andy Bird Retiring? Who Will Replaced Andy Bird? Who is Angry Bird?
by Alaguvelan M | Updated Sep 20, 2023
Is Andy Bird Retiring?
Yes, Pearson's CEO, Andy Bird, is stepping down from his role after three years. He's 59 years old and joined Pearson in 2020, coming from The Walt Disney Company. Pearson will have a new CEO, Omar Abbosh, taking over in the new year.
Abbosh's base salary will be £1 million, which is lower than Bird's. He may also receive a bonus of up to £7.5 million. In 2022, nearly 25% of Pearson's shareholders voted against the company's pay plan.
Bird mentioned that Pearson asked him to return from retirement in 2020, and he planned to retire again once he had completed certain goals. He expressed gratitude for leading Pearson during a period of significant change.
Pearson's shares fell by 4.4% to 845p after this announcement. Andy Bird, who studied English at Newcastle University, had a long career, including 14 years at The Walt Disney Company, where he served as Chairman of Walt Disney International. He also spent nine years at Warner Media and received a CBE in 2012 for his contributions to media and entertainment.
During Bird's time as CEO, Pearson went through a period of stability after previous CEO John Fallon's tumultuous tenure. Under Fallon, the company sold its stakes in the Economist and the Financial Times, and Fallon's pay package faced rejection by shareholders. Bird's leadership focused on transitioning Pearson into a technology-oriented company, introducing automated exam marking and Chat-GPT style learning assistants for students. Pearson's shares increased by approximately 60% during his tenure.
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Who Will Replaced Andy Bird?
Replacing Andy Bird as the CEO of Pearson will be Omar Abbosh, a Microsoft executive who currently serves as the president of Microsoft's industry solutions business. Abbosh is set to assume the role early next year, following Bird's three-year tenure as Pearson's chief executive.
During Bird's leadership, Pearson shifted its focus towards digital education and training services, resulting in a notable 60% increase in the company's share price. Bird's decision to retire and pass on the leadership role was not part of a pre-planned timeline but was driven by his desire to retire ahead of his 60th birthday.
Despite Pearson's share price performance, the company faced investor dissent earlier in the year over its executive pay policies. The company's remuneration policy, which proposed increasing the maximum annual bonus, drew criticism from investors. As Pearson looks forward to a trajectory of growth, Bird believes it's the appropriate time to hand over leadership responsibilities to a successor.
Pearson's chairman, Omid Kordestani, expressed confidence in the company's foundations and growth prospects. Omar Abbosh, who brings a wealth of experience from his tenure at Accenture and Microsoft, will be taking on the role of CEO with a base salary of £1 million, while Bird's total pay in the previous year was $8.5 million, including performance-linked incentives.
Who is Angry Bird?
Andy Bird, often referred to as "Angry Bird," is a notable British executive who has held prominent positions in the media and entertainment industry. Hailing from Warrington, England, and educated at Newcastle University, Bird's career journey began in broadcasting, where he contributed to radio shows and worked for renowned figures like Richard Branson's Virgin Broadcasting.
In 2004, he joined The Walt Disney Company, where he played a vital role in expanding Disney's global reach, overseeing acquisitions and content localization. Bird's outstanding contributions earned him the Commander of the Most Excellent Order of the British Empire (CBE) distinction in 2012. Currently, he serves as the CEO of Pearson plc, a significant player in the education sector, a position he took on in October 2020.
Angry Bird Career
Andy Bird, a distinguished British executive, has had a remarkable career in the world of media and entertainment. Growing up in Warrington, England, he embarked on his journey by working in broadcasting, starting as an assistant to Timmy Mallett at Manchester's Piccadilly Radio.
His dedication and talent led him to produce the breakfast show, eventually making his way to London, where he contributed to Richard Branson's Virgin Broadcasting and worked on projects like Music Box and 'Radio Radio.' Subsequently, he ventured into British Satellite Broadcasting, specifically with The Power Station channel.
In 2004, Andy Bird's career took a significant turn as he joined The Walt Disney Company. During his tenure, he played a pivotal role in expanding Disney's global presence, overseeing acquisitions like Hungama TV in India and investments in UTV. Bird was recognized for his outstanding contributions when he was appointed Commander of the Most Excellent Order of the British Empire (CBE) in the 2012 Birthday Honours.
Currently, he serves as the CEO of Pearson plc, a prominent education company, a position he assumed in October 2020, succeeding John Fallon. Andy Bird's career is a testament to his remarkable journey from the world of broadcasting to the helm of leadership in the media and education sectors.
Why is Andy Bird Retiring?
Andy Bird, the CEO of educational publisher Pearson Plc, is retiring due to shareholder dissatisfaction with his pay package and concerns about the impact of artificial intelligence on the company.
He initially came out of retirement to lead Pearson's transformation from traditional textbooks to a technology-focused approach but faced criticism over his compensation. Pearson has appointed Omar Abbosh, a Microsoft executive, as the new CEO, aiming to navigate challenges in the evolving education industry, including AI-related disruptions.
Pearson Plc
Pearson Plc, headquartered in London, England, is a British multinational publishing and education company with a rich history dating back to the 1840s when it began as a construction business. However, in the 1920s, it shifted its focus to publishing and eventually became the world's largest book publisher.
In 2013, Pearson merged its Penguin Books with Bertelsmann, a German conglomerate, and in 2015, it decided to concentrate solely on education. The company also owns Edexcel, one of the GCSE examining boards in the UK. It is listed on the London Stock Exchange and is part of the FTSE 100 Index.
Pearson's core mission is to empower individuals to maximize their learning and potential. To achieve this, the company offers a diverse range of products and services catering to learners of all ages, from early childhood to adulthood. These offerings encompass textbooks, digital learning materials, assessment tools, and professional development services for educators.
Pearson serves a wide spectrum of customers, including educational institutions, businesses, and individuals, operating across more than 70 countries and employing a workforce of over 20,000 people. Additionally, Pearson is deeply committed to social responsibility and sustainability, actively supporting educational initiatives in developing nations and striving to minimize its environmental footprint.
In the field of education, Pearson stands as a prominent provider of comprehensive products and services, dedicated to enabling individuals to unlock their learning potential and achieve their goals.
Is Andy Bird Retiring - FAQs
Andy Bird is retiring due to shareholder dissatisfaction with his pay package and concerns about the impact of artificial intelligence on the company's business.
Omar Abbosh, the president of Microsoft Corp.'s Industry Solutions business and a former Accenture executive, will be replacing Andy Bird as CEO.
Andy Bird faced challenges related to the transformation of Pearson from traditional textbooks to a technology-focused approach, as well as criticism over his compensation.
Shareholder advisory firms criticized Andy Bird's $11 million pay package as "excessive."
Omar Abbosh will receive a base salary of £1 million ($1.2 million) as the new CEO of Pearson.