Waldron's expected rise stirs talk inside Goldman of knock-on succession plans
GS•Goldman Sachs staff are speculating that CFO Denis Coleman or global banking and markets co-head Ashok Varadhan could replace COO John Waldron if Waldron becomes CEO. Goldman says there is no definitive succession timeline, and no formal process has begun.
1. Succession speculation
Goldman Sachs COO John Waldron is widely viewed as CEO David Solomon’s likely successor in coming years, prompting internal speculation about who could take Waldron’s role. Two people familiar with the matter named CFO Denis Coleman and global banking and markets co-head Ashok Varadhan as possible candidates, among others; they said no formal Solomon succession process was underway.
2. Possible leadership changes
A move by Coleman to COO could put the CFO role in play, with chief accounting officer Sheara Fredman, chief administrative officer Ericka Leslie and global treasurer Carey Halio among possible candidates, the two people said. Goldman’s global head of communications called the speculation “nothing more than chattering class speculation” and said it did not reflect real facts at the bank.
3. Timing and context
Solomon is expected to stay on as CEO until 2028, a source told Reuters earlier. Goldman said the board regularly discusses succession but has no definitive timeline. The board gave Solomon and Waldron retention packages of $80 million each last year, vesting in five years.
