Education firm Pearson hikes CEO pay 20% despite record loss

The world’s largest education publisher Pearson rewarded CEO John Fallon with a 20% pay increase for 2016, despite a pre-tax loss of $3.3 billion, its biggest in history. Fallon’s compensation was valued at $1.9 million for 2016, compared with $1.6 million in 2015. Earlier, Pearson was forced to put its Penguin Random House stake up for sale to raise cash.