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Bank of America Cuts CEO's Compensation for 2023
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Bank of America's board has approved a cut to CEO Brian Moynihan's total compensation for 2023 due to the company's performance and Moynihan's role in delivering responsible growth. Moynihan's base salary will remain at $1.5 million this year.
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How does this compensation cut reflect Bank of America's overall financial situation?
How might this compensation cut impact Moynihan's performance and motivation?
What factors were considered in the review by the independent members of the board?
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