1. David Solomon Said at a Private Dinner that he’s going to Follow his Own Advice as CEO of Goldman Sachs — and it Means the Board's Due for a Refresh

    David Solomon Said at a Private Dinner that he’s going to Follow his Own Advice as CEO of Goldman Sachs — and it Means the Board's Due for a Refresh
    • Incoming Goldman Sachs president David Solomon will begin reshaping the bank's board of directors in the coming months.
    • Solomon discussed his plans at a September 13 dinner hosted by Barclays and attended by some of the firm's biggest investors.
    • Solomon wouldn't be the first executive to push for board changes after taking control, a practice that's common across corporate America, even if it raises the ire of corporate governance experts...
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    1. Under our corporate governance guidelines, two of our directors are slated to leave the board next year.
    2. The challenge in this is board members have to be independent but CEOs don't want them to be too independent.
    3. Can they continue to evolve as trading becomes less of a source of income?
    4. The board is monitoring the company's progress.
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