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Glass Lewis Says to Vote No on Goldman Executive Pay

Shareholders of Goldman Sachs Group Inc. (GS) are getting conflicting advice over how to vote on the firm's executive pay plans and a director nominee at next week's shareholder meeting.Proxy advisory service Glass Lewis & Co. has told shareholders to vote against Goldman's executive pay, citing a "disconnect" between pay and performance. Meanwhile, rival Institutional Shareholder Services has told investors to vote for the proposal, known as a "say on pay" measure.Such votes on pay plans don't require a company to make changes, but large votes against them are seen as a strong rebuke to management, as was the case last year at Citigroup's (C) annual meeting when shareholders voted against a plan that awarded millions of dollars in pay to top management.Glass Lewis gave Goldman a "D" grade for pay for performance in a report released Monday. The bank's annual shareholder meeting is scheduled to be held in Salt Lake City on May 23. The advisory service said Goldman paid its top executiv...

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