Morgan Stanley shareholders urged to vote against pay proposal by proxy adviser
6 months ago
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Morgan Stanley shareholders should vote against its proposal for executive pay at the bank's annual meeting on May 23, according to a recommendation by influential proxy adviser Glass Lewis. Former CEO James Gorman, who is now executive chairman, was awarded $37 million by the company's board, while the three candidates to succeed him were given $20 million one-time awards. Last week, Bank of America and Goldman Sachs shareholders rejected proposals to divide the CEO and chairman roles at both banks, despite recommendations by proxy advisers to separate the positions.
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