Thursday, April 11, 2013

Goldman deal lets Blankfein keep dual roles

For the second year in a row, Goldman Sachs Group Inc fended off a shareholder proposal that could have led to a messy public vote to strip CEO Lloyd Blankfein of his chairman's title.

By striking a deal for modest changes to the company's governance policies, Blankfein again potentially avoided the kind of embarrassment suffered by Jamie Dimon, CEO and chairman of JPMorgan Chase & Co, who faced substantial opposition on a similar vote last year, or Citi’s then-CEO Vikram Pandit, whose executive pay plan was rejected by shareholders last year….

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