Goldman Sachs Group's board has discussed a plan for Chief Operating Officer John Waldron to succeed David Solomon as chief executive officer as soon as next year.

The move could potentially occur in late 2027 or 2028, according to a report on Monday that cited unnamed people familiar with the matter.

Under the plan, Solomon, 64, would likely serve as executive chairman for one to two years after stepping down as CEO.

The report said the board of Goldman Sachs (NYSE: GS) may approve the plan within the coming months.

Waldron, 57, who also serves as president of Goldman Sachs (NYSE: GS), has long been viewed as Solomon's successor, and board members are unwilling to risk delaying the transition, according to the report.

Representatives for Goldman Sachs (NYSE: GS) did not immediately respond to a call seeking comment.