Waldron long seen as next Goldman CEO; Goldman reportedly weighs timing
GS•Goldman Sachs reportedly discussed a plan for CEO David Solomon to step down and COO John Waldron to replace him as soon as next year. A spokesperson said there is no definitive timeline for succession, while the report said discussions involved a transition around the end of 2027 or in 2028.
1. Succession discussions
Goldman Sachs reportedly discussed a plan for Solomon to step down as CEO and be replaced by Waldron as soon as next year. The bank’s spokesperson said the board regularly discusses succession but there is no definitive timeline, and assertions about timing are speculation.
2. Possible transition timing
Solomon, 64, was named CEO in October 2018 and had been expected by senior staff to serve 10 years, a source told Reuters. The report said discussions involved Waldron taking over around the end of 2027 or in 2028, with Solomon remaining executive chairman for one to two years; the proposal would require board approval and its timing could change.
3. Waldron’s role
Waldron, 57, has been president and COO since October 2018 and oversees leaders of the bank’s main divisions. He joined Goldman in 2000, became a member of its board last year and received a retention bonus. Wells Fargo analyst Mike Mayo said the succession had been unusually telegraphed and Waldron’s appointment had been expected since last year.
