Pearson was initially appointed club accountant in 1977 before taking over as secretary.
He guided Wolves through their troubles under the Bhatti Brothers in the 1980s and steadied the ship after the club went into administration twice, taking them into the Sir Jack Hayward era before eventually leaving Molineux for Derby County in 1994.
Richard Skirrow, who took on the Wolves secretary role in 1996 and served the club until 2017, became close friends with Pearson in retirement, building on their relationship that first came with being contemporaries at different clubs.
He said: “Keith was very conscientious, diligent and a true gentleman. He worked hard, had a generous spirit and he was well respected and very well liked. While he was at Wolves, he did everything he could in the best interests of the club. That was very much evidenced by the role he played in the difficult 1980s as he was there at the time of the two administrations in the 1980s – one in 1982 and the other in 1986. During these years, the future of the club was very uncertain, but Keith played a key role in keeping the club afloat.”
Pearson is survived by his wife, children Tim and Graham, and two grandchildren.