Lloyd C. Blankfein, chairman and chief executive officer of Goldman Sachs Group Inc has stepped down from his position and plans on making a new career out of politics.
"When you think of my last five or six predecessors, five of them left because they went to the government," he told reporters after participating in a discussion at the Chicago Club. "I would say the government isn't going to call me up. So that means staying forever or dying at my desk."
Goldman Sachs became a bank following the 2008 financial crisis and Blankfein is one of very few Wall Street CEO's to retain his job during the downturn.
During Blankfein's six year term as CEO, Goldman Sachs Group brought in the highest profits in the history of the company. The time that Blankfein has dedicated in his position as CEO and chairman makes it difficult for Blankfein to just walk away from something he has long been committed to.
"I'll tell you why this is a tough job to leave," Blankfein said. "When things are going really well it's the best job in the world and you wouldn't want to leave. And when things are going badly you can't leave because your sense of responsibility won't let you."
Blankfein is ranked number ten of the ten most favored CEOs in New York, according to ratings on Glassdoor.com, which is based on employee reviews.
