Shareholders of Goldman Sachs and Bank of America voted against proposals to divide the CEO and chairman roles at their respective banks. Proxy advisors and the Norwegian sovereign wealth fund had urged shareholders to support the moves, arguing for stronger corporate governance. Despite receiving increased support from last year, the proposals failed to gain a majority, with 33% of Goldman shareholders and 31% of BofA shareholders voting in favor. Goldman’s governance committee maintains that the current structure, including a strong lead independent director alongside the chairman-CEO role, is most effective. BofA shareholders also approved all management proposals, including on executive compensation, while rejecting all shareholder proposals.