The Goldman Sachs Group has announced that Lloyd C. Blankfein will retire as Chairman and CEO and that the Board of Directors has appointed David M. Solomon to succeed him in both roles.
Blankfein will step down as CEO on September 30, 2018, and will retire from the firm and as Chairman of the Board at the end of the year. Blankfein will accept the title of Senior Chairman after his retirement. Solomon will join the firm’s Board on October 1, 2018. Blankfein has been Chairman and CEO since 2006.
“I want to express my deep appreciation for the opportunity to work with and benefit from so many talented and dedicated colleagues,” said Blankfein.
“My job has also allowed me to engage with many of the most impressive business leaders around the world and I thank them for allowing me to help support their goals and priorities. Our firm has demonstrated great resiliency and strength over the last 12 years. I’ve never been more optimistic about our ability to serve our clients effectively and generate industry-leading returns. David is the right person to lead Goldman Sachs. He has demonstrated a proven ability to build and grow businesses, identified creative ways to enhance our culture and has put clients at the center of our strategy.”
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