The board of Goldman Sachs has begun discussing succession arrangements for CEO David Solomon, with current President and Chief Operating Officer John Waldron viewed as the clearest candidate to take over, potentially as early as 2027.

People familiar with the matter said the current discussion points to a timeframe roughly between late 2027 and 2028. The plan still requires formal approval from the Goldman Sachs board and the timing could be adjusted, but directors have already started preparing for a future leadership transition.

Waldron Emerges as the Most Clearly Defined Successor

John Waldron currently serves as both President and Chief Operating Officer of Goldman Sachs, making him the second-most senior executive after Solomon. Under the plan currently under discussion, Waldron would take over Goldman Sachs after Solomon steps down as CEO. Compared with seeking an external candidate on short notice, this arrangement signals that Goldman Sachs prefers to complete the power transfer through internal promotion. If the plan ultimately proceeds, Waldron would become the central figure responsible for executing Goldman Sachs' strategy in its next phase.

Solomon May Remain as Chairman After Stepping Down as CEO

Even after giving up the CEO role, Solomon is not expected to leave Goldman Sachs immediately. Reports indicate he may continue as executive chairman for about one to two years after handing over the CEO position, helping to complete the management and strategic transition. This arrangement means Goldman Sachs is not considering an abrupt change of leadership, but rather a relatively smooth succession mechanism: Waldron first takes over as CEO, and Solomon continues to participate for a period as executive chairman.

Succession Discussions Remain at the Planning Stage

At present, the plan has not been finalized. The arrangement still requires board approval, and the specific timing of the handover could be adjusted based on the company's operating conditions and the external environment. Therefore, a more accurate understanding is that Goldman Sachs has entered the stage of CEO succession planning, rather than having already locked in a timetable for a leadership change. Still, the fact that the board has begun discussing a specific successor and time window shows that the long-term management transition at Goldman Sachs is gradually moving from an internal contingency plan into formal planning.

The Solomon Era May Be Entering Its Latter Half

Solomon has led Goldman Sachs for many years, placing heavy emphasis on the trading business during his tenure and pushing the firm to strengthen its core Wall Street operations. In recent years, as the trading and capital markets environment improved, Goldman Sachs shares at one point hit record highs. Against this backdrop, the board's decision to begin discussing succession does not mean the company is facing a major operational crisis. It looks more like designing a management transition in advance for the coming years, at a time when the share price and core business performance are relatively strong. If Waldron ultimately takes over as planned, Goldman Sachs' next CEO change will most likely be a continuity-style internal handover rather than an abrupt shift in strategic direction.