Goldman Sachs has added two new members to its board of directors as it strengthens its leadership team. President and Chief Operating Officer John Waldron has joined the board alongside CEO David Solomon, cementing his position as a potential successor.
Waldron, 55, oversees three main divisions at Goldman and previously served as co-head of investment banking since 2014. His bonuses, which vest in five years, were awarded to him and Solomon in an effort by the bank’s board to retain top leaders.
The additions come after Goldman reported its biggest quarterly profit in over three years in January. Analysts say the move suggests firmer succession planning is underway at the firm. The new members will also serve on various committees, including audit, governance, and risk.
Accenture’s former Chief Financial Officer KC McClure has joined the board as an independent director, alongside Gary Cohn, a former president of Goldman Sachs.
Source: https://finance.yahoo.com/news/goldman-sachs-adds-president-john-213520984.html