Goldman Sachs' Waldron Set for CEO Role as Solomon Steps Down
Goldman Sachs Group Inc.'s board has been working on a plan to ensure that John Waldron, the current chief operating officer and president, succeeds David Solomon as CEO by next year. According to The Wall Street Journal, the board is discussing a proposal under which Waldron would take over at the end of 2027 or in 2028.
The move comes after Goldman's board offered Waldron an $80 million incentive package last year to stay on for five more years as CEO. This matching incentive was given to Solomon, who has been CEO for eight years and is likely to become executive chairman for about one or two years after stepping down.
Waldron, 57, joined Goldman in 2000 and has steadily risen through the ranks. He has worked closely with Solomon throughout his career and was elevated to head the investment bank alongside him in 2014.