Scardino

Ms. Scardino said she had never met with the Libyan Investment Authority, but that Pearson at one point had contact with a middleman financial representative for the fund in Europe.

Pearson Uneasy That Libya Holds Stake Paul Sonne 2011

"Though market conditions are anything but easy, we are sufficiently encouraged by our start to the year to raise both our guidance and our dividend," said Marjorie Scardino , chief executive.

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Marjorie Scardino Ms. Scardino's comments reflect an emerging issue for a variety of European companies grappling with the fact that they have the suddenly unwelcome Libyan Investment Authority as major shareholder.

Pearson Uneasy That Libya Holds Stake Paul Sonne 2011

Ms. Scardino said Pearson is working to determine the exact beneficial owner of the Libyan Investment Authority's 3% shareholding, worth about $400 million according to Lion Shares.

Pearson Uneasy That Libya Holds Stake Paul Sonne 2011

"We're in a terrible position," Ms. Scardino said in a news briefing on Monday, noting that Pearson, as a public company, has no control over who invests in its stock.

Pearson Uneasy That Libya Holds Stake Paul Sonne 2011

LONDON— Pearson PLC Chief Executive Marjorie Scardino said Monday that she is "uncomfortable" with the Libyan sovereign wealth fund's 3% shareholding in Pearson and is seeking clarity as to whether a U.K. freeze on Libyan assets covers the stake.

Pearson Uneasy That Libya Holds Stake Paul Sonne 2011

Pearson's long-standing chief executive, Marjorie Scardino, banked the largest cash payment, of £620,700 – nearly 76% of her salary – while Peter Clarke, chief executive of hedge fund Man Group, pocketed £532,000 – 94% of his salary.

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"The world economy is neither simple nor helpful this year, but we are producing another good year for Pearson," Chief Executive Marjorie Scardino said.

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"We do not know what the freeze notice covers," Ms. Scardino said Monday.

Pearson Uneasy That Libya Holds Stake Paul Sonne 2011

Ms. Scardino's comments about Libya came as Pearson reported a net profit for 2010 of £1.30 billion $2.11 billion for 2010, up from £425 million a year earlier, boosted by £776 million in profit from Pearson's sale of its 61% stake in Interactive Data Corp. last May.

Pearson Uneasy That Libya Holds Stake Paul Sonne 2011