Goldman Sachs has added President and Chief Operating Officer John Waldron to its board of directors, cementing his position as a potential successor to CEO David Solomon. At 55, Waldron joins Solomon, 63, as the second member of the management committee to hold a seat on the board.
Waldron’s appointment comes after he received a retention bonus last month, which was intended to keep top leaders at the bank. The bonuses, worth an estimated $10 million, vest in five years and are part of Goldman’s efforts to retain key personnel.
As president and chief operating officer since 2018, Waldron oversees the three main divisions of the bank. He previously held roles as co-head of investment banking and has been with Goldman since 2000.
The move comes after Gary Cohn, a former president, left Goldman in 2016 to join President Donald Trump’s administration as an economic adviser. The bank also announced Wednesday that Accenture’s Chief Financial Officer KC McClure will join its board as an independent director.
Goldman Sachs recently reported its largest quarterly profit in over three years, driven by increased deal fees and active markets benefiting traders.
Source: https://www.cnbc.com/2025/02/26/goldman-sachs-adds-waldron-to-board-lining-up-potential-ceo-succession.html