Pearson's future is up in the air after Rupert Lowe and fellow ex-chairman Michael Wilde called for an Extraordinary General Meeting, which will be held on May 16 with a view to removing current supremo Leon Crouch and most of the board.
Were Lowe and Wilde to complete a successful return to the south-coast club - which appears a formality given they control 46% of the shares - then Glenn Hoddle has been linked with a managerial comeback.
The Saints had 3-2 win over Sheffield United on Sunday which secured Championship survival.
Pearson took over from caretaker bosses John Gorman and Jason Dodd - who themselves replaced Scotland-bound George Burley - in February after quitting as Newcastle coach.
Just two wins in 13 attempts before Sunday saw Saints slip into the drop zone.
