Goldman’s board has discussed plan to name John Waldron as next CEO, WSJ reports

Goldman Sachs' board is reportedly considering naming John Waldron as the next CEO, according to a Wall Street Journal report. The investment bank has been discussing a plan for Solomon to step down as CEO and be replaced by Chief Operating Officer Waldron as early as next year, sources familiar with the matter told Reuters.

Waldron, 57, has been expected to take over the CEO role from Solomon, 64, for several years now. Solomon has been the CEO since October 2018, and according to sources, he was initially expected to serve in the position for 10 years, which would make him the CEO until 2028. Waldron was appointed to the board and awarded a retention bonus last year, further solidifying his position as the successor.

Waldron, who has been president and chief operating officer since October 2018, oversees the main divisions of the bank, including global banking, markets, and wealth and asset management. He previously served as co-head of investment banking from 2014 after joining Goldman in 2000.

The succession plan, if approved by the bank's board, would see Solomon becoming executive chairman for one to two years after stepping down as CEO. The proposal could potentially be finalized in the coming months. Goldman shares were little changed in after-hours trading.