Goldman Sachs’s board has discussed a potential transition from Chief Executive Officer David Solomon to President and Chief Operating Officer John Waldron. The Wall Street Journal reported that Solomon could leave the top role as early as next year, although the discussions have focused on a handover around late 2027 or during 2028, with Solomon potentially remaining executive chairman for one to two years. The plan requires board approval, and spokesman Tony Fratto said Goldman regularly reviews succession but has no definitive timetable. A central risk is that Solomon, 64, may not be ready to relinquish the role while Waldron, 57, may be unwilling to wait indefinitely. Waldron has long been viewed as Solomon’s leading successor and received an $80 million retention award announced in January 2025 after holding serious discussions with Apollo Global Management and other firms. Goldman has shifted parts of Waldron’s operating remit, including the AI-focused OneGS 3.0 overhaul, to Chief Financial Officer Denis Coleman. A leadership transition would leave the president’s post open, creating retention concerns around other senior executives. Goldman shares rose 0.19% in premarket trading after the report, and the stock has more than quadrupled since Solomon became CEO in October 2018, compared with an approximately 67% gain for a broader bank-stock index.