Due to Goldman Sachs' involvement in the Malaysian bribery scandal "1MDB," the bank decided to reduce CEO David Solomon's salary for 2020 by $10 million to $17.5 million.
Financial documents clarified that the bonus amounts reflect the decision announced by the board of directors, which also includes details of salary reductions for Chief Operating Officer John Waldron and Chief Financial Officer Stephen Scherr. The documents revealed that although the three officials were unaware of the company's participation in any illegal activity at the time the company arranged the 1MDB bond deals, the board considers the 1MDB case an institutional failure.
