Goldman CEO, 6 others forgo 2008 bonuses [View All]

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NEW YORK (Reuters) - Goldman Sachs Group Inc (NYSE:GS - News) said on Sunday its Chief Executive Lloyd Blankfein and six other top officials will not get bonuses for 2008.
Lloyd Blankfein, Chairman and CEO of Goldman Sachs & Co., speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange in this June 27, 2007 file photo. Goldman Sachs Group Inc said on Sunday Blankfein and six other top officials will not get bonuses for 2008. REUTERS/Chip East

Lloyd Blankfein, Chairman and CEO of Goldman Sachs & Co., speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange in this June 27, 2007 file photo. Goldman Sachs Group Inc said on Sunday Blankfein and six other top officials will not get bonuses for 2008. REUTERS/Chip East


Blankfein, Presidents and Co-Chief Operating Officers Jon Winkelried and Gary Cohn, Chief Financial Officer David Viniar, and three vice chairmen -- J. Michael Evans, Michael Sherwood and John Weinberg -- asked the board's compensation committee Sunday morning that they not receive a bonus, spokesman Lucas van Praag said.

The compensation committee met and agreed, Praag said.

The executives will only be eligible for a base salary of $600,000 each, the Wall Street Journal reported.

Last year, Blankfein made $68.5 million, Winkelried and Cohn got $67.5 million, and Viniar got $57.5 million. The compensation of the other three was not disclosed.

New York Attorney General Andrew Cuomo said Goldman had taken "an important step in the right direction."

http://finance.yahoo.com/news/Goldman-CEO-6-others-forgo-rb-13588476.html