Investment giant Goldman Sachs has decided to increase the compensation of its executives to ensure stability and continuity of leadership. CEO David Solomon earned $39 million last year, a 26% increase. At the same time, the company announced extraordinary stock bonuses of $80 million for Solomon and President John Waldron. The moves reflect an effort to retain key executives at a time of intense competition in the financial marketplace.
Goldman Sachs $GS, one of the world's most prestigious investment banks, announced a significant increase in bonuses for its executives. CEO David Solomon received $39 million in salary and bonuses last year. In addition, his board of directors awarded him an $80 million stock bonus that will be paid out over the next five years.
President and COO John Waldron, who is widely considered a possible successor to Solomon, received a similar $80 million stock-linked bonus. According to a statement from the bank, the moves are part of a broader strategy to…