Goldman Sachs Plans John Waldron to Succeed David Solomon
Goldman Sachs is planning for President John Waldron to replace CEO David Solomon as early as late 2027 or 2028.
The board of Goldman Sachs has discussed a succession plan for Chief Executive Officer David Solomon to step down, with President and Chief Operating Officer John Waldron slated to replace him as soon as late 2027 or 2028. Under the proposed arrangement, which awaits formal board approval, Solomon would likely transition to the role of executive chairman for one to two years after leaving the CEO position.
Waldron has been viewed as the heir apparent for years, receiving an $80 million retention bonus in January 2025 to prevent his departure to other firms. He is characterized as having a more attentive leadership style than Solomon and has previously served as a mediator between the CEO and senior partners during internal unrest.
The transition follows a volatile eight-year tenure for Solomon, specifically a failed expansion into consumer lending that resulted in billions of dollars in losses. While the firm has recently seen stock prices rise due to a renewed focus on core Wall Street businesses, the leadership shift is expected to create openings for other senior executives. Finance Chief Denis Coleman has already begun absorbing some of Waldron's operational duties in anticipation of the change.
