[ad_1]
Regardless of Goldman receiving the identical grade final 12 months, Glass Lewis had beneficial shareholders log off on the pay plan then.
The board lifted Solomon’s pay because the agency spent a lot of the previous 12 months dousing inside rifts and pitching buyers on a simplified technique. After giving up on its retail-banking ambitions, New York-based Goldman has returned its focus to enterprise traces embraced by Solomon’s predecessors.
Goldman’s compensation committee cited the CEO’s “decisive management in recognizing the necessity to make clear and simplify the agency’s ahead technique,” in response to a February submitting.
That reasoning drew personal gripes from different Goldman executives, who identified that the agency was pulling again from a poorly executed retail-banking plan that the CEO had embraced over inside opposition.
The advice to vote down the pay proposal comes forward of the financial institution’s annual assembly on April 24, the place it’s in search of shareholder approval of government pay.
(Credit score: Bloomberg)
Copyright 2024 Bloomberg. All rights reserved. This materials is probably not revealed, broadcast, rewritten, or redistributed.
[ad_2]
