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Goldman Sachs Investors Should Oppose Pay Plan, Glass Lewis Says

Goldman Sachs Group Inc. shareholders should vote against the bank’s executive-pay plan, proxy-advisory firm Glass Lewis & Co. said, while ISS Proxy Advisory Services USA supported the program.

Goldman Sachs has been “deficient” in linking compensation to company performance, Glass Lewis said yesterday in a report, which also opposed the re-election of compensation committee Chairman James A. Johnson. ISS said in a May 8 report that shareholders should vote for Johnson at the New York-based bank’s May 23 annual meeting.