Morgan Stanley executive chairman James Gorman will step down at year end
NEW YORK -Morgan Stanley's executive chairman James Gorman told the bank's annual shareholder meeting on Thursday that he would step down on Dec. 31.
The shareholders approved all of management's proposals on Thursday including election of directors and approving executives pay. Meanwhile, all shareholder proposals were rejected. Gorman was awarded $37 million by the company's board, while Pick and two other CEO candidates were given $20 million one-time awards.
In an annual meeting that ran just under a half hour, Gorman concluded by saying that this was the fastest shareholder meeting in 15 years which is proof of the"stellar start" his successors have made.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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