Goldman Sachs' board has begun discussing a handover that would see President and Chief Operating Officer John Waldron succeed David Solomon as chief executive in late 2027 or 2028, the Wall Street Journal reported on Monday. Under the plan discussed by directors, Solomon, 64, would step back and remain as executive chairman for one to two years to smooth the transition. A board vote could come in the coming months, though the timing remains fluid and no final decision has been taken. Goldman spokesman Tony Fratto said there was no definitive timeline, calling speculation about timing premature. Waldron, 57, has been Solomon's deputy since 2018 and received an $80 million retention award in January 2025. He joined the board this year. Solomon has led Goldman since October 2018, steering it through roughly $7 billion in consumer-lending losses while the bank's stock roughly quadrupled. A leadership change would mark one of Wall Street's most closely watched successions.