Goldman Sachs has named James J. Schiro as the new lead director and head of the corporate governance and nominating committee, a position the bank recently agreed to give more power too to appease some shareholders the Wall St Journal reports.
Schiro, a former CEO at Zurich Financial Services and at PricewaterhouseCoopers LLP, has been on the Goldman board since 2009 and has most recently chaired the audit group. He replaces John H. Bryan, who is stepping down from the board.
Goldmans Sachs said it would appoint a lead director to help balance out the board’s power because CEO Lloyd Blankfein is also chairman. The company’s board structure had come under pressure from shareholders, including the American Federation of State, County and Municipal Employees, to make changes to the structure. Afscme pushed to have the chairman and chief executive roles split….
Wait, wait...there's more at http://blogs.wsj.com/deals/2012/04/02/goldman-names-new-lead-director-to-board/
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