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Goldman Sachs faces criticism from proxy adviser Glass Lewis over $160 million in executive retention bonuses for CEO David Solomon and president John Waldron, which are deemed excessive and misaligned with company performance. Despite a pay hike for Solomon and a strong 2024, concerns persist about the disconnect between executive compensation and the firm's results, particularly as the bonuses are based on restricted stock units without performance conditions. Glass Lewis highlighted a lack of transparency in the bonus rationale, urging shareholders to reject the proposals at the upcoming annual meeting on April 23.
Goldman Sachs faces scrutiny over its executive compensation, with CEO David Solomon and COO John Waldron receiving $39m and $38m, plus $80m in stock awards, which have drawn criticism for lacking performance conditions. Advisory firm Glass Lewis suggests shareholders may oppose these pay packages at the upcoming annual meeting. Meanwhile, the private equity sector is struggling, with a shift in hiring focus towards senior roles and experts, leaving junior bankers facing reduced opportunities and compensation.
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.
Glass Lewis has advised investors to vote against the pay of Goldman Sachs executives, highlighting a disconnect between compensation and performance, particularly criticizing the $160 million in retention awards for CEO David Solomon and President John Waldron. The firm argues that these grants are necessary to retain talent and support long-term shareholder value, but Glass Lewis finds the justification lacking.
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.
John Waldron
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