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Glass Lewis & Co. is urging investors to oppose Goldman Sachs Group Inc.'s plan to award $80 million bonuses to CEO David Solomon and President John Waldron. The advisory firm criticized the bonuses as "excessive retention awards" and expressed concerns over the company's ongoing failure to align pay with performance.
Proxy adviser Glass Lewis has recommended that investors vote against the pay of Goldman Sachs executives, citing a lack of alignment between pay and performance, particularly criticizing the $160 million in retention awards for CEO David Solomon and President John Waldron. Goldman Sachs defended the compensation, stating that the stock-based grants are designed to retain leadership and support long-term shareholder value creation amid fierce competition for talent.
Glass Lewis has criticized Goldman Sachs for awarding $80 million bonuses to CEO David Solomon and President John Waldron, urging shareholders to reject the proposal due to concerns over the lack of performance conditions and transparency. The advisory firm highlighted that the bonuses, which are entirely stock-based, deviate from the bank's historical practices and could lead to a public rebuke if shareholders vote against them at the upcoming annual meeting. Additionally, shareholder support for executive pay at Goldman has declined, raising further concerns about investor sentiment.
Proxy adviser Glass Lewis has recommended investors vote "against" the pay of Goldman Sachs executives, citing a lack of alignment between pay and performance. The firm criticized the $160 million in retention awards given to CEO David Solomon and President John Waldron as excessive, noting that the rationale provided in the proxy statement was insufficient.
Proxy adviser Glass Lewis has recommended investors vote "against" the executive pay at Goldman Sachs, criticizing the bank's failure to align compensation with performance. The report highlights the $160 million in retention awards given to CEO David Solomon and President John Waldron, calling the rationale for these payments insufficient.
Proxy adviser Glass Lewis has recommended investors vote "against" the pay of Goldman Sachs executives, citing a lack of alignment between pay and performance. The firm criticized the $160 million in retention awards given to CEO David Solomon and President John Waldron as excessive, noting that the rationale provided in the proxy statement was insufficient.
UBS is contemplating relocating its headquarters amid potential capital requirement increases of up to $40 billion, which could hinder its global competitiveness. CEO Sergio Ermotti emphasized that excessive regulations could penalize the bank's diversified operations and impact Switzerland's economy. The bank's commitment to a Swiss identity remains, but it faces challenges balancing local regulations with its international business strategy.
Goldman Sachs COO John Waldron is a leading candidate to succeed David Solomon as CEO, emphasizing the bank's commitment to bitcoin and digital assets. He is developing BTC-related services and has restarted the digital asset trading desk, while also exploring blockchain projects and CBDCs. Despite past challenges, including significant losses in retail banking and a corruption scandal, Waldron aims to ensure compliance as the firm ventures into new financial territories.
Jim Cramer expressed strong support for American Express Company (NYSE: AXP), praising its CEO and card offerings appealing to younger consumers. He highlighted positive trends in card sign-ups and dismissed bearish sentiments, emphasizing the company's resilience amid market fluctuations. Cramer also discussed the broader economic impact of tariffs and the need for clearer communication from the Trump administration regarding their effects on American goods.
Jim Cramer expressed strong support for American Express (AXP) while criticizing the Trump administration's handling of tariffs, emphasizing the need for clearer communication to the public about their impact. He noted that many companies are struggling, creating a negative atmosphere for consumer spending and travel, which could lead to bankruptcies. Cramer highlighted the disparity in tariffs against American goods and the lack of a coherent strategy from the administration to address these issues.
David M. Solomon
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