AFSCME claimed stripping Blankfein of his chairman powers would help Goldman repair its reputation and reduce the potential for conflicts of interest.
AFSCME submitted shareholder proposals to split the chairman and CEO at J.P. Morgan Chase & Co., American Express Co., North Trust Corp. and six other companies. None of these firms held talks with AFSCME on the proposals, the union told The Wall Street Journal.
Last September, the AFSCME proposal submitted to Goldman brought on months of discussions and contingency planning among directors and executives on the firm’s management committee.
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