×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: goldman sachs ceo pay | david solomon | inflation | recession

Goldman Slashes CEO's Pay to $25 Million

Goldman Slashes CEO's Pay to $25 Million
Goldman Sachs CEO David Solomon (AP)

Friday, 27 January 2023 12:35 PM EST

Goldman Sachs Group Inc. slashed compensation for its Chief Executive Officer David Solomon by 29% to $25 million for 2022, the bank said in a filing Friday.

Solomon's pay comprises a $2 million base salary, $6.9 million cash bonus and $16.1 million in restricted stock. He was paid $35 million for 2021.

The bank's compensation committee cited the "challenging operating environment" as a factor in deciding Solomon's pay, according to the filing. It also noted his "strong individual performance and effective leadership."

The cut was the largest so far among the CEOs of the biggest U.S. banks, whose firms suffered from a dealmaking drought after a blockbuster 2021.

Morgan Stanley CEO James Gorman's compensation was reduced 10% to $31.5 million for 2022. At JPMorgan Chase & Co, Jamie Dimon's pay held steady at $34.5 million for 2022.

Last year, influential proxy advisory firm Glass Lewis urged shareholders to vote against pay packages that included one-off stock grants for Solomon and John Waldron, the company's president. Their compensation was later approved by investors.

© 2023 Thomson/Reuters. All rights reserved.


StreetTalk
Goldman Sachs Group Inc. slashed compensation for its Chief Executive Officer David Solomon by 29% to $25 million for 2022, the bank said in a filing Friday.
goldman sachs ceo pay, david solomon, inflation, recession
172
2023-35-27
Friday, 27 January 2023 12:35 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved