David Solomon defeated a proposal seeking to separate his roles as CEO and chairman of Goldman Sachs, but the measure received double the support it did in 2023.
Some of Wall Street’s most powerful bosses are facing new shareholder proposals this spring that would strip them of power by separating CEO and chairman seats.
G oldman Sachs and Bank of America shareholders voted against proposals to divide the CEO and chairman roles at both banks on Wednesday, bucking pressure from influential proxy advisers to bolster corporate governance. Proxy advisers Institutional Shareholder Services (ISS) and Glass Lewis had urged shareholders to support the moves and strip Goldman CEO David Solomon and BofA CEO Brian Moynihan of their chairman roles.