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Glass Lewis recommends votes "against" CEO pay at Goldman Sachs

The article from Reuters discusses how Glass Lewis, a prominent proxy advisory firm, has recommended that shareholders of Goldman Sachs vote against the bank's executive compensation plan for 2023. This recommendation comes in light of the significant pay awarded to CEO David Solomon, who received $31 million, despite the bank's underperformance in stock value compared to its peers. Glass Lewis criticized the lack of alignment between CEO pay and shareholder returns, pointing out that Solomon's compensation was not only high but also saw a 24% increase from the previous year. The advisory firm also highlighted issues with the structure of the compensation, including the use of one-time awards and the overall design of the pay package which they argue does not effectively incentivize long-term shareholder value creation. This recommendation adds to the scrutiny Goldman Sachs faces regarding its executive compensation practices.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/glass-lewis-recommends-votes-against-ceo-pay-goldman-sachs-2025-03-29/ ]