Goldman board weighs Solomon exit as soon as end-2027, Waldron to succeed

September 29, 2026 at 04:47 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Goldman Sachs' board has discussed a plan for CEO David Solomon to step down as soon as the end of 2027 or 2028, with President John Waldron as his successor, the Wall Street Journal reported. Board approval would be needed in the coming months, and a Goldman spokesperson said there is no definitive timeline. Goldman's stock rose slightly in after-market trading following the report.

Key Facts

Goldman Sachs' board has discussed a plan for CEO David Solomon to step down as soon as the end of 2027 or 2028, according to a Wall Street Journal report citing unnamed sources.
John Waldron, Goldman's president and chief operating officer, is the long-anticipated successor to Solomon.
Goldman spokesperson Tony Fratto said the board regularly discusses succession but there is no definitive timeline, calling assertions about timing speculative.
Goldman's stock has quadrupled to $916 per share since Solomon became CEO in October 2018.
Solomon turns 65 in January and in July said a transition would come 'at some point in time, but it's not now.'

Succession Timeline

The Wall Street Journal reported late Monday that Goldman's board has discussed a plan for Solomon to step down as CEO as soon as the end of 2027 or 2028. Board approval of the plan would need to take place in the coming months, according to the report. Goldman spokesperson Tony Fratto said in an emailed statement that the board regularly discusses succession, as disclosed in filings, but there is no definitive timeline. Fratto added that any assertions about timing are speculative.

Market and Performance

Following the report, Goldman's stock rose slightly in after-market trading and is up more than 4% for the year. Goldman's stock has quadrupled to $916 per share since Solomon officially became CEO in October 2018. Over the first half of this year, AI-driven capital raising, a boom in corporate mergers, and unusually active markets accelerated growth in Goldman's core trading and dealmaking franchises.

Solomon's Tenure

Solomon, who turns 65 in January, acknowledged in July that a transition would eventually come while pushing back on the idea that it was imminent. He told CNBC's David Faber he was excited about the firm's next three to five years and that a transition would happen 'at some point in time, but it's not now.' In 2023, Solomon faced mounting pressure as Goldman reported its lowest quarterly profits in three years amid job cuts, a dealmaking slump, partner unrest, and a retreat from consumer banking.