Blankfein Keeps Both Goldman Sachs Top Jobs

Shareholder proposal to split chairman, CEO duties fails

By Nick McMaster

Posted May 7, 2010 3:40 PM CDT

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Blankfein Keeps Both Goldman Sachs Top Jobs — Goldman Sachs Chief Executive Officer Lloyd Blankfein, center, listens as President Barack Obama addresses the Business Council in Washington, Tuesday, May 4, 2010. (AP Photo/Susan Walsh)

Lloyd Blankfein will remain both the chairman and CEO of Goldman Sachs, after defeating a shareholder proposal to split the posts. Only 19% of shareholders voted to award the chairmanship to another Goldman employee, despite the SEC complaint filed last month accusing Goldman of securities fraud. The proposal predated the complaint, but today's vote was nonetheless an important reading of the broad support Blankfein still enjoys among shareholders, the New York Times reports.

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