The pay cut for Solomon, which at $10 million constitutes roughly 36% of his yearly salary, reflects prior penalties imposed on the bank and not Solomon's own conduct.
Goldman Sachs CEO David Michael Solomon attends a discussion on "Women Entrepreneurs Through Finance and Markets" at the World Bank on October 18, 2019 in Washington, DC.CEO David Solomon saw his pay slashed by just over a third for 2020 as part of a punishment for the bank's role in the 1MDB scandal.
The pay cut for Solomon, which at $10 million constitutes roughly 36% of his yearly salary, reflects prior penalties imposed on the bank and not Solomon's own conduct. The compensation reductions also apply to John Waldron, Goldman's president and chief operating officer and Stephen Scherr, Goldman's finance head, who each received a pay cut of $7 million. The cuts are part of a broader effort by the bank to claw back $174 million in pay from former and current executives as part of its penalties.
Would it not make more sense to question his suitability for the role? The way I see it you are still going to pay gobs of cash to an untrustworthy character, who will continue to have lots on influence. That’s some signal to send out.
Dem shekels.
wow, easy ride then.
thedailybeast voxdotcom business WSJ Goldman Sachs CEO David Solomon saw his pay slashed by just over a third for 2020 as part of a punishment for the bank’s role in the 1MDB scandal.
How’s the man expected to feed his family on a mere $20 million a year?
Hope he'll be okay.. 😰
Good thing it was just an American “White Collar Crime” the participants from Asia received lengthy prison time and loss of hands 🙌 GoldmanSachs ftcommodities FTC
Poor little creature...
So how much will he have left ? will he still be able to eat and feed his family, this is heartbreaking.....not.
Ridiculous, jail time it's whats needed
Poor guy! Let’s start a gofundme page for him! How can I sleep now knowing he won’t be able to pay his bills! Me so sad!
The CEO of bitcoin has never taken a pay cut because of a scandal.
What are they shorting ? Just curious
this is terrible news
You have to have $10m to lose it 🙄
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