Proxy advisers suggest splitting CEO and chairman roles at Bank of America, emphasis on governance.

From Investing.com: 2024-04-05 20:00:35

Proxy advisers Glass Lewis and ISS recommend Bank of America split CEO and chairman roles held by Brian Moynihan for better governance. Moynihan has served as chief executive since 2009 and chairman since 2014. Earlier, advisers pushed for Goldman Sachs to do the same with David Solomon, citing concerns over executive pay plans. Shareholders urged to reject. Post-2008, emphasis on risk oversight spurred calls to separate chair and CEO roles at big banks like Goldman and JPMorgan Chase. Banks typically resist by other changes, like empowering a lead independent director, as Goldman did in 2013.



Read more at Investing.com: BofA urged by proxy advisers to split CEO, chair roles By Reuters