My work here is done

Former Walmart president and CEO Lee Scott will step down from the board of Goldman Sachs after serving just one year, according to a report late Thursday by the Financial Times. The publication indicated that a person familiar with the situation said service on the Goldman board demanded significantly more time than Scott had anticipated. Not long after joining the financial institution at a time when its reputation was sullied, Scott was tapped to serve on a committee that conducted an eight-month review process and then issued a report with 39 recommendations on how Goldman could reform its business practices.

“Lee made an important contribution to our board and the firm during a challenging period,” Lloyd Blankfein, Goldman’s chief executive, said in a statement. “I am particularly grateful for the enormous time and effort he committed to the board’s efforts related to the business standards committee.”

My work here is done

Former Walmart president and CEO Lee Scott will step down from the board of Goldman Sachs after serving just one year, according to a report late Thursday by the Financial Times. The publication indicated that a person familiar with the situation said service on the Goldman board demanded significantly more time than Scott had anticipated. Not long after joining the financial institution at a time when its reputation was sullied, Scott was tapped to serve on a committee that conducted an eight-month review process and then issued a report with 39 recommendations on how Goldman could reform its business practices.

“Lee made an important contribution to our board and the firm during a challenging period,” Lloyd Blankfein, Goldman’s chief executive, said in a statement. “I am particularly grateful for the enormous time and effort he committed to the board’s efforts related to the business standards committee.”

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