(Adds detail on Pearson pay package in paragraph 3, Abbosh's previous stints in paragraph 2, share performance under Bird in paragraph 6)

Sept 20 (Reuters) - British education group Pearson said on Wednesday it has appointed Microsoft executive Omar Abbosh as its new CEO effective early 2024, succeeding Andy Bird, who is retiring after about three years in the role.

Abbosh is currently President of Microsoft's Industry Solutions business and before that he spent three decades at Accenture in numerous senior leadership roles, including chief strategy officer.

Pearson would compensate Abbosh for leaving Microsoft, including paying cash and an award of restricted shares equivalent to a maximum of 50,813 Microsoft shares or about 13 million pounds ($16.06 million) at the current price and foreign exchange, it said.

"The Company is at an exciting stage of its growth journey in markets that are increasingly digital. I look forward to building on the strategic growth opportunities," Abbosh said in a statement.

Former Walt Disney Co executive Bird had joined as CEO in October 2020. The British company had to get the backing of shareholders to offer him a co-investment opportunity worth up to $9.3 million.

Shares in Pearson have gained more than 62% under Bird's leadership. He took over at a time when the educational publisher was struggling as it adapted from selling textbooks via book shops to online courseware.

Abbosh will receive an annual base salary of 1 million pounds and an annual cash allowance of 16% of base salary in lieu of pension, among other elements, as part of his remuneration.

($1 = 0.8093 pounds) (Reporting by Yadarisa Shabong and Eva Mathews in Bengaluru; editing by Janane Venkatraman and Jason Neely)