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[ Mon, Apr 21st ]: Fortune
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David Solomon's pay hinges on whether Goldman is more than just a bank

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The retention packages for Chief Executive Officer David Solomon and President John Waldron give the latter more reason to stick around to run the place.
Goldman Sachs CEO David Solomon's total compensation for 2023 was set at $31 million, a slight increase from the previous year's $25 million, as approved by the firm's board despite a challenging year marked by a 24% drop in profits and significant layoffs. The compensation package includes a $2 million base salary and a $29 million bonus, split between $16.1 million in cash and $12.9 million in performance-linked stock, reflecting the board's confidence in Solomon's leadership amidst a difficult economic environment. The decision faced some criticism, particularly from shareholders and former executives like Waldron, who argued that the raise was unjustified given the firm's performance, but the board justified the increase by citing Solomon's strategic vision and efforts to navigate the firm through turbulent times.

Read the Full Fortune Article at:
[ https://fortune.com/article/goldman-sachs-ceo-compensation-package-solomon-waldron-board-bonus/ ]