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Goldman Sachs Board Discusses Naming COO John Waldron as Next CEO, WSJ Reports
Summary
The Goldman Sachs board has discussed a potential succession plan for CEO David Solomon to step down and be replaced by Chief Operating Officer John Waldron, according to a Wall Street Journal report.
The board of Goldman Sachs has discussed a plan that would see Chief Executive Officer David Solomon step down and be succeeded by Chief Operating Officer John Waldron, potentially as soon as next year, The Wall Street Journal reported Monday, citing people familiar with the matter.
The Proposed Timeline
According to the report, the discussions outline a transition that could see Waldron take over the CEO role around the end of 2027 or in 2028. Under the proposal, Solomon would remain with the firm as executive chairman for one to two years after stepping down as CEO.
The plan remains subject to formal approval by the bank's board, and its timing could change, the report noted. A spokesperson for Goldman Sachs declined to comment on the matter. The company's shares were little changed in after-hours trading following the news.
AdContext and Background
David Solomon was appointed CEO in October 2018. A source familiar with the matter indicated that senior staff had previously expected him to serve a 10-year term, which would align with the reported 2028 timeline for a transition.
CEO succession has become a key focus for investors across Wall Street. Leadership planning at other major U.S. banks, including JPMorgan Chase under Jamie Dimon and Bank of America under Brian Moynihan, is also being closely monitored by the market.
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