• Sat. Apr 20th, 2024

Goldman Sachs Under Fire: ISS Recommends Separation of CEO and Chairman Roles Amid Ongoing Scrutiny

BySamantha Jones

Apr 4, 2024
Investor Advisor Recommends Separating Roles of Goldman CEO and Chairman

Recently, Institutional Shareholder Services (ISS) has recommended that Goldman Sachs separate the roles of CEO and chairman to ensure more independent oversight. This recommendation comes at a time when Goldman Sachs is under scrutiny for its consumer business and ongoing personnel issues. Despite the fact that under David Solomon’s leadership, the stock has seen significant growth, recent issues facing the bank have put him under a harsh spotlight.

One of these issues is the lack of female leadership at the company, including women leaving during Solomon’s tenure. The former head of the consumer business ventures, Stephanie Cohen, led this sector and ended up in losses and subsequent retreat. ISS has expressed concerns about Solomon’s decisions in this area and his overall performance in the consumer sector, which has resulted in losses and further human capital issues.

Even though Goldman’s governance committee found the dual CEO-chairman structure to be effective, ISS still recommends separate roles. The board of directors, including next lead independent director David Viniar, have received this recommendation but are standing by their decision and structure despite skepticism about elevating a former Goldman executive to such a role.

Despite receiving requests for comment from ISS and upcoming shareholder meeting vote on this issue, Goldman Sachs remains silent on its stance on separating the CEO and chairman roles.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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