Goldman Sachs Preserves Blankfein’s Dual Role
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Goldman Sachs Group Inc. won’t face a union challenge to Lloyd C. Blankfein’s dual role as chairman and chief executive officer after agreeing to appoint an independent board member as “lead director.”
“We think it’s a step in the right direction,” said Lisa Lindsley, the Washington-based director of capital strategies at the American Federation of State, County and Municipal Employees, which she said owned 7,101 Goldman Sachs shares when the union filed a proposal to split Blankfein’s roles. She said AFSCME and Goldman Sachs reached the compromise, reported earlier today by the Wall Street Journal, on Feb. 6.