Goldman Sachs announced there is no definitive timeline for CEO David Solomon to step down, following reports that deputy John Waldron could succeed him as early as next year. The Wall Street Journal reported the board discussed Waldron taking over by the end of 2027 or in 2028, with Solomon potentially becoming executive chair afterward. Goldman spokesperson Tony Fratto stated the board regularly discusses succession but emphasized no set timeline exists, calling any timing assertions speculation.

Waldron, president and chief operating officer, is widely viewed as the heir apparent. He has run the bank alongside Solomon since 2018, when Solomon replaced Lloyd Blankfein. Both executives received $80 million retention bonuses at the start of 2025.

Waldron joined Goldman in 2000 after starting at Bear Stearns in the early 1990s, rising through the ranks as Solomon recruited him. The bank’s stock has risen approximately 180 percent in the past three years. Earlier this year, Waldron rebuffed overtures from Apollo Global but secured a board seat and retained his role.

His close relationship with Solomon and broad responsibilities position him as the logical successor, though questions remain regarding other senior executives passed over for leadership roles.