CFO Slice

Goldman Sachs’ board has discussed a succession plan that could see president and chief operating officer John Waldron replace David Solomon as chief executive around the end of 2027 or in 2028, according to people familiar with the matter. Under the proposal, which still requires board approval and has no definitive timeline, Solomon would likely remain as executive chairman for one to two years after stepping down. Mr. Waldron, 57, has long been viewed as Solomon’s likely successor and received an $80m retention award in 2025 after exploring opportunities outside Goldman. His potential promotion could trigger a broader reshuffle among senior executives, with finance chief Denis Coleman already taking on some of Mr. Waldron’s responsibilities, while the future president role remains unresolved. The potential transition follows a recovery in Goldman’s performance after a difficult period under Mr. Solomon, including its costly retreat from consumer lending, which has generated roughly $7bn in pretax losses since 2020 across a large portion of the business.