Goldman Sachs Group, Inc.‘s (NYSE:GS) board has reportedly discussed a succession plan in which CEO David Solomon would step down and hand the top job to President and Chief Operating Officer John Waldron.

Solomon Could Step Down Next Year

Solomon could step down as CEO as soon as next year, with Waldron taking over around late 2027 or in 2028, the Wall Street Journal reported, citing people familiar with the matter.

Under the plan, Solomon would become executive chairman for one to two years after leaving the CEO role.

Goldman spokesman Tony Fratto said the board “regularly discusses succession, as we disclose in our filings,” but added that “there is no definitive timeline for succession at Goldman Sachs” and that “any assertions about timing are just speculation.”

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At the Helm Since 2018

Solomon became Goldman’s CEO on Oct. 1, 2018, succeeding Lloyd Blankfein.

Under his leadership, shares of the company have gained over 308% so far.

Waldron has served as Goldman’s president and chief operating officer since 2018.

Over the past year, the bank has been shifting some of Waldron’s COO responsibilities to finance chief Denis Coleman, the Journal added.

Price Action: On Monday, the stock closed 2.05% lower at $916.28 and rose 0.05% in extended trading.

Benzinga edge rankings indicate Goldman Sachs’ stock has a Momentum score in the 56th percentile and a Growth score in the 55th percentile.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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