The CEO of Wall Street titan Goldman Sachs announced on Tuesday morning that he was beginning a course of treatment for a curable form of cancer called a lymphoma.
“My treatment plan will include chemotherapy over the next several months in New York,” Lloyd Blankfein, the chairman and CEO of Goldman Sachs wrote in a message to employees and in a press release published on the firm’s website. “My doctors have advised me that during the treatment, I will be able to work substantially as normal, leading the firm.”
At the end of the message Blankfein noted: “There are many people who are dealing with cancer every day. I draw on their experiences as I begin my own. I have a lot of energy and I’m anxious to begin the treatment. I appreciate your support and good wishes.”
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Of note, the share price of Goldman Sachs dropped 1.6% to $180.45 in early trading Tuesday after the news.
More on Goldman CEO Lloyd Blankfein
Blankfein turned 61 this year. He became the CEO at Goldman when Henry Paulson left the firm to become Treasury secretary. He saw Goldman Sachs through the dark days of the financial crisis and the public backlash against the megabanks who were primarily responsible for the disaster.
Industry analysts point out that Lloyd Blankfein has been supported by an able group of lieutenants, some who have worked with him since he ran the investment bank’s fixed-income trading operations.
Gary Cohn, a key lieutenant, has served as president and COO since Blankfein took over in 2006 and would seem a likely choice as Blankfein’s successor should he choose to retire in the next year or two. Cohn is 55.
That said, Blankfein has not publicly discussed his retirement plans to date, and colleagues and friends have said they see no signs he plans to step down soon.