Goldman's Blankfein Safe - For Now

Red Faced Blankfein

But who needs the hassle ?

Bloomberg reports that Goldman won’t face a union challenge to Lloyd C. Blankfein’s dual role as Chairman and CEO, after agreeing to appoint an independent board member as 'lead director'.

Reuters reports that, according to its sources, senior Goldman executives have talked about splitting the roles of CEO and Chairman, although pressure for any imminent move appears to have eased after the labour union pension fund deal.

Under a restructure, President Gary Cohn is thought likely to take the CEO role and Vice Chairman J. Michael Evans would be elevated to President, leaving Blankfein with only the Chairman role.

Finally, Bloomberg also reports that Rajat Gupta, the former Goldman director indicted on insider trading charges, has won a court order requiring prosecutors to share information from securities regulators that might help show he’s innocent, but he has lost a bid to suppress wiretap evidence.

In another ruling, the court also granted Gupta’s lawyers two additional hours to question Blankfein under oath, as part of the SEC suit against Gupta and Raj Rajaratnam.

 

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