In 2023, Bank of America reduced CEO Brian Moynihan's pay by 3% to $29 million due to reduced annual profit and underperforming shares.

Bank of America has cut CEO Brian Moynihan's pay by 3% to $29 million for 2023, due to a decrease in the bank's annual profit and its shares performing the worst among major rivals. The board granted Moynihan $1.5 million in salary and $27.5 million in stock-based incentive awards. This follows a 6.3% reduction in Moynihan's compensation in 2022 after earnings fell and shares declined.

February 02, 2024
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