Brocker.Org: Goldman Sachs shareholders approve executive pay plan

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Michael Nagle | Bloomberg | Getty Images

Lloyd Blankfein, Chairman and CEO of Goldman Sachs.

Goldman Sachs‘ compensation plan was passed by 93 percent of shareholders at the bank’s annual meeting on Friday, after it simplified the pay structure for CEO Lloyd Blankfein.

The vote was a turnaround from last year when Goldman’s “say on pay” resolution received the support of 66 percent of shareholders. Support for executive pay among Russell 3000 companies averaged 91 percent last year, according to consulting firm Semler Brossy.

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