(Reuters) – Proxy adviser Glass Lewis recommended investors cast advisory votes “against” the pay of top Goldman Sachs executives, citing the Wall Street bank’s “continued inability to align pay with performance” and retention grants that Glass Lewis called excessive.
In a report sent late on Friday Glass Lewis noted the combined $160 million in retention awards the Wall Street bank gave to CEO David Solomon and to President John Waldron in January.
“While we will review the impact of the additional $160 million on the Company’s pay and performance alignment within the full scope of 2025, thus far, the provided discussion regarding the rationale in the proxy statement is far from robust,” Glass Lewis wrote in the report.
Goldman Sachs representatives did not immediately respond to a request for comment on Saturday.
(Reporting by Ross Kerber; editing by Diane Craft)
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