Goldman's David Solomon survives vote on CEO-chair split [Yahoo! Finance]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Yahoo! Finance
The preliminary tally released by the Wall Street giant at its annual meeting Wednesday showed 33% of shareholders in favor of the split, up from 16% last year. "We are pleased that voting in support doubled from last year," said Luke Perlot of the National Legal and Policy Center, which sponsored the shareholder proposal. "We are disappointed that these clear examples of excesses did not convince a majority to support our proposal." Perlot argued that the dual role held by Solomon had shielded him from the accountability of past missteps, including the company's costly push into consumer banking. Shareholders at Bank of America ( BAC ) also rejected a similar proposal Wednesday that would have separated the CEO and chairman roles held by Brian Moynihan. There were 31% in favor of it, as compared with 26% last year. Both banks have argued they need the flexibility to determine the best leadership structure for their firms. Solomon and Moynihan are among several Wall Street
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