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Saga of Goldman Sachs Board Continues

Goldman Sachs is revising its board structuring.

After conceding to union calls for a separation of its CEO and chairman positions, both held by Lloyd Blankfein, Goldman Sachs Group recently announced that there will be further restructuring of its board.

RTT News reports that two board members, John Bryan and Lois Juliber, will not be seeking re-election at the upcoming annual shareholders meeting. Bryan's departure falls under the corporate governance guidelines' retirement policy, while Juliber is leaving due to increased time commitments related to other activities, the source recounts.

Board director Michele Burns will be moving into the role of chair of the audit committee, while the former chair, James Schiro, will move up to be the board's lead director and chair of its corporate governance and nominating committee.

In a company statement, Blankfein applauded Bryan's service, "judgement, temperament and independent thinking," and also gave a nod to Juliber's "expertise and uncommon wisdom, particularly in her recent role helping to oversee the work of the Business Standards Committee."

Goldman Sachs is making changes in other parts of its business as well, Bloomberg reports. The company recently appointed a new global head of loan trading, Bryan Mix, and have made John Shaffer and Jonathan Meltzer the co-heads of New York credit sales.