Goldman Reaches Deal to Let C.E.O. Be Chairman
Well the fuzz about a new chairman for Goldman Sachs is not over. The proposal of reaching a deal with CtW Investment Group for a split the position chairman and chief executive, a proposal that was suggested in January was withdrawn. Lloyd C. Blankfein, is keeping the roles of both position. Also, the independent directors of annual meetings will increase from two to four.
The issue of whether or not a chief executive should be chairman are affecting other banks as well, according to this article, big banks like Morgan Stanley and JP Morgan have chief executives who also serves as chairman. Also there are big banks like Citigroup and Bank of America have different people serving to their positions.
I personally think may be this is good for the company that they could save more money on salary and not as much dispute when making a decision. May be more companies will follow this tradition in the future.