Glass Lewis, a prominent corporate governance activist group, has criticized Goldman Sachs for what it calls “egregious” executive bonuses. The group expressed its disapproval after reviewing the bank’s 2022 compensation package.
Goldman Sachs disclosed that its CEO David Solomon received a total compensation of $44.8 million in 2022, with bonuses making up nearly half of this amount. Other top executives also received substantial bonuses, further fueling concerns among Glass Lewis and other critics about executive pay.
Glass Lewis’s criticism comes as many have questioned the fairness and justification for large bonuses paid to executives at major financial institutions during a time when the industry is facing intense scrutiny over its practices and handling of financial crises.
The group’s assessment highlights the ongoing debate over executive compensation and corporate governance in the financial sector.
Source: https://www.ft.com/content/2f490f15-c0f2-43a5-8962-a87df904ba39