Key facts
- Goldman Sachs' board has discussed replacing CEO David Solomon with COO John Waldron.
- The leadership change could occur as early as 2027 or 2028.
- David Solomon may transition to executive chairman for one to two years.
- The plan requires board approval and could be decided in the coming months.
Goldman Sachs' board has discussed a plan that would see Chief Executive David Solomon step down and be replaced by Chief Operating Officer John Waldron, the Wall Street Journal reported on Monday, citing people familiar with the matter. The discussions involve Waldron, who also holds the title of president at the bank, taking over the top job around the end of 2027 or in 2028. Under the proposed plan, Solomon would likely transition to the role of executive chairman of the Goldman board for approximately one to two years after relinquishing the CEO position. This succession plan requires approval from Goldman's board, which could occur in the coming months. Goldman Sachs declined to comment when reached by Reuters.