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Glass Lewis recommends voting against CEO pay at Goldman Sachs

The article from MSN discusses a recommendation by the proxy advisory firm Glass Lewis, which advises shareholders of Goldman Sachs to vote against the compensation packages for the company's top executives, including CEO David Solomon. Glass Lewis criticized the significant increase in Solomon's pay, which rose by 24% to $31 million in 2022, despite the bank's underperformance in stock price and earnings per share compared to its peers. The firm highlighted concerns over the alignment of pay with performance, noting that Solomon's compensation was not justified given the company's financial results. Additionally, Glass Lewis pointed out issues with the structure of the compensation, including the lack of performance-based metrics and the high level of discretion in setting pay. This recommendation comes amidst broader scrutiny of executive compensation in the financial sector, especially in light of economic challenges and shareholder returns.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/companies/glass-lewis-recommends-voting-against-ceo-pay-at-goldman-sachs/ar-AA1BUoM5 ]