Goldman Sachs Group Inc. said about a third of shareholders voted against its executive compensation plan, up from roughly 2 percent who tried to block it a year ago.
This year’s plan passed with 66 percent of investors voting in favor, based on a preliminary count, Goldman Sachs said Friday at its annual meeting in Jersey City, New Jersey. A proposal that would have split the roles of chairman and chief executive officer was rejected, with 30 percent voting in favor.
The shareholder votes are in line with those of other firms that faced proposals on executive compensation and the CEO and chairman role. JPMorgan Chase & Co., the biggest U.S. bank by assets, said about 33 percent of investors voted to split the two jobs, according to a preliminary tally conducted at its annual meeting Tuesday. More than a third of Citigroup Inc.’s shareholders voted against the firm’s executive pay plan at its annual meeting last month.
Shareholder “say on pay” was mandated in 2010 by the Dodd-Frank financial-reform law, which calls for such votes at least every three years. Ninety percent of companies in the S&P 500 Index hold them annually and support for pay packages in the S&P 500 Index averaged 92 percent in each company’s most recent vote, according to data compiled by Bloomberg. Failing votes are rare.
© Copyright 2025 Bloomberg News. All rights reserved.