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Blankfein Supports Same-Sex Marriage
February 6, 2012
[ by Melanie Gretchen ]
Lloyd Blankfein, CEO of Goldman Sachs, is the first national corporate spokesman for same-sex marriage for The Human Rights Campaign, a national organization that promotes equal rights for gay, lesbian, bisexual, and transgender people. The campaign promoting the issue is up for legislative votes in several states, including Washington and Maryland. Mr. Blankfein reportedly was chosen, in part, because he is “an unexpected messenger," according to HRC executive Fred Sainz.
Since becoming CEO of Goldman in 2006, Blankfein has been one of the longest-tenured CEO's on the Street. During that time, he's been roundly criticized for outsized pay packages and for rewarding the type of risk-taking that led to the financial crisis.
Speculation About Motives. Amid growing speculation that he will hand over the reins to a deputy this year, some are questioning his motives for participating in this campaign - and, specifically his agreement to be affiliated with a liberal organization in an industry known for its conservativism.
Blankfein's Announcement Spot. Wearing a crisp white shirt and red-patterned tie, Mr. Blankfein appears in a 32-second Web spot intended to drum up support and donations - it starts off like this:
“I’m Lloyd Blankfein, chairman and CEO of Goldman Sachs, and I support marriage equality. America’s corporations learned long ago that equality is just good business and is the right thing to do.”
As one would imagine, Mr. Blankfein's involvement in this campaign is not expected to have much, if any, impact on Goldman or the firm's office of the CEO. His participation is viewed simply as a diversion from "business as usual." [Dealbook, 2/5/12]Related Stories: Archive
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