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Goldman Sachs Board Directors are leading the way with a commitment to diversity and talent. The board boasts a strong female presence, with a significant percentage of women serving as directors.
Their diverse backgrounds and expertise are a testament to the company's dedication to finding the best talent, regardless of origin. This approach has resulted in a board that reflects the global nature of the business.
The board's collective experience in finance and leadership is impressive, with many directors having held top positions at other major financial institutions. This depth of knowledge and expertise is invaluable in guiding the company's strategic decisions.
Board Members
Goldman Sachs has a diverse board of directors, with members from various backgrounds and industries. David Viniar, a 69-year-old director, has been on the board since 2012. Lakshmi Niwas Mittal, a 73-year-old director, joined the board in 2008.
The board also includes younger members, such as Kimberley Harris, a 54-year-old director who joined the board in 2021. Kevin Johnson, a 64-year-old director, was appointed in 2022.
Here is a list of the current board members:
Diversity and Talent
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Goldman Sachs is pushing for more diverse boards of directors, with CEO David Solomon stating that the bank will no longer help companies go public unless they have at least one diverse board candidate, with a focus on women.
Companies with all-male boards have been a concern, with nearly 60 companies in the U.S. and Europe going public in recent years with no female directors.
Research on the impact of diverse boards on firm performance has been inconclusive, but the move by Goldman Sachs is seen as a symbol of the strength of the business case for diversity.
As of 2018, less than a quarter of board seats at Fortune 500 companies were held by women, but things have slowly started to change in recent years.
The market is clearly demanding more diverse boards, with executive search firms like Heidrick & Struggles being asked for women board nominees.
Managers: The Group
The Goldman Sachs Group has a diverse range of managers, with a mix of ages and tenure.
David Solomon, the CEO, is 63 years old and has been in the role since September 30, 2018.
John Waldron, the President, is 56 years old and has also been in the role since September 30, 2018.
Denis Coleman, the Director of Finance/CFO, is 52 years old and took on the role on December 31, 2021.
Marco Argenti, the Chief Tech/Sci/R&D Officer, is not listed with an age.
Carey Halio, the Investor Relations Contact, is also not listed with an age.
Here are the managers' titles and start dates:
Goldman Sachs Advocates for Diverse Boards
Goldman Sachs has made a bold move by refusing to help companies go public unless they have at least one diverse board candidate, with a focus on women.
The bank's CEO, David Solomon, made this announcement after noting that nearly 60 companies in the U.S. and Europe have gone public in recent years with all-male boards.
Companies with at least one woman director perform significantly better, according to Solomon.
Having a diverse board of directors is crucial for making big strategy decisions, and it's essential to have different perspectives in the room.
According to Erin Essenmacher, chief programming officer with the National Association of Corporate Directors, "if you're not thinking differently about who's sitting around the table then you're probably not thinking differently about other big questions that can really hurt your business."
As of 2018, less than a quarter of board seats at Fortune 500 companies were held by women, but things have slowly started to change in recent years.
The market is clearly demanding more diversity on boards, with Lee Hanson, a vice president at executive search firm Heidrick & Struggles, stating that it's the overriding thing they're being asked for.
Women and other underrepresented groups still face many challenges in being appointed to boards, including the expectation of having CEO or previous board experience.
Frequently Asked Questions
How much do Goldman Sachs board members make?
Goldman Sachs Advisory Board Members earn an estimated average salary of $355,873 per year, which is 9% higher than the average Goldman Sachs salary. This figure is based on estimates and may vary depending on individual circumstances.
Sources
- https://csimarket.com/stocks/GS-Officers-Directors.html
- https://www1.salary.com/GOLDMAN-SACHS-GROUP-INC-Executive-Salaries.html
- https://www.marketscreener.com/quote/stock/THE-GOLDMAN-SACHS-GROUP-I-12831/company/
- https://www.marketplace.org/2020/01/23/goldman-sachs-pushes-for-more-diverse-boards-of-directors/
- https://nypost.com/2023/06/15/goldman-sachs-board-starting-to-reevaluate-ceo-david-solomon/
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