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Two accused teenagers to remain in custody for at least two more weeks | SaltWire #newsupdate #newsNEW YORK -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 his successor Ted Pick and two other CEO candidates were given $20 million one-time awards."The company paid significantly more than its peers, but performed worse," Glass Lewis wrote in a report, citing its compensation models."The misalignment between pay and performance alignment is indicative of a costly CEO transition.
Glass Lewis had also called for an advisory vote against Goldman's executive pay, saying shareholders"should be wary of the continued disconnect between pay and performance."
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