Goldman Sachs Group’s lead director and chair of the board’s corporate governance, nominating and public responsibilities committee James Schiro has retired from the board to undergo treatment for multiple myeloma.
Additionally, Schiro will be replaced by another board member, Adebayo O. Ogunlesi as lead director of as well as head of the corporate governance committee.
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In his new role, Ogunlesi will oversee the group that evaluates Goldman’s chairman and CEO Lloyd Blankfein’s performance, succession plans and vets potential additions to the board.
Schiro has also stepped down from the board of PepsiCo. Schiro, who joined Goldman’s board in 2009, previously worked as chief executive of PricewaterhouseCoopers and Zurich Insurance Group.
At the same time, Michele Burns will replace Ogunlesi as chairman of the board’s risk committee, while Peter Oppenheimer will become audit committee chairman.
Blankfein said: "His deep experience across financial services, nuanced judgment and the seriousness with which he carried out his responsibilities, particularly as Lead Director, will leave an indelible mark on our Board. We benefited from his wise counsel and probing questions, and admired his graciousness and professionalism. Jim is in our thoughts and we wish him and his family all the best."
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