Goldman Sachs urged to separate CEO and chair roles by proxy advisers

South Shore school lunch program setting the standard | SaltWire #school #lunch #education - Goldman Sachs should separate the CEO and chairman roles currently held by David Solomon, proxy adviser Glass Lewis wrote in a report on Thursday.

Glass Lewis said having an independent chair"is nearly always preferable to having a single individual lead both the board and the executive team."In addition, it recommended investors cast advisory votes against compensation at the Wall Street bank. Goldman Sachs did not immediately provide a comment. On Wednesday, a company spokesperson cited the bank's recommendation to vote against the independent chair proposal as laid out in its proxy statement.

Last year, Glass Lewis had also recommended investors vote for the separation of the chairman and CEO roles as a matter of good corporate governance. Meanwhile, ISS had recommended against the measure, saying at the time there were"no significant concerns regarding the company's governance practices."

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