Goldman Sachs raises CEO pay to $39 million and secures five more years for David Solomon

Goldman Sachs has increased CEO David Solomon's pay by 26% to $39 million for 2024. The board also approved an $80 million stock retention bonus for Solomon, indicating he will remain CEO for another five years. John Waldron, the bank's president and COO, received a similar $80 million retention bonus. This move aims to ensure stability in leadership amid ongoing discussions about CEO succession at major U.S. banks. Goldman Sachs reported a net income of $4.11 billion for the fourth quarter, driven by strong performance in investment banking and trading. The bank has shifted focus back to these areas after losses in its consumer business.