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Blankfein Planning Summer Announcement?
February 21, 2012
[ by Melanie Gretchen ]
Goldman CEO Lloyd Blankfein could be the next Goldman partner to retire, according to Wall Street rumors, as early as this summer. Fortune magazine, which issued the report, notes that a leading candidate to replace Blankfein is President and COO Gary Cohn.
Damage Control. In the wake of the financial crisis, the firm continues looking for ways to recover from damages to the firm's reputation. “[Cohn] rose through the ranks at the firm as a trader, along with Blankfein; over the last 17 years or so he has become a top manager. All of the firm’s key business heads report to Cohn, and he also has emerged as a global ambassador for the bank," reports Fortune’s Katie Benner.
Ms. Benner told CNBC on Tuesday that "[Blankfein] would like to keep his job for much longer," but the Board is waiting for his departure. "If we see him stay beyond the end of this year, then he has prevailed over the Board."
Alternately, Mr. Blankfein could share the role of CEO, as predecessors have done - namely, John Weinberg and John Whitehead; Robert Rubin and Stephen Friedman; and Jon Corzine and Henry Paulson.
[CNBC, 2/21/12]

