Hess Corp CEO Joins Goldman Sachs Board as Independent Director

The Goldman Sachs Group, Inc. (GS) announced on June 24, 2024, the appointment of John B. Hess to its Board of Directors as an independent member. Mr. Hess will concurrently serve on the Board’s Compensation, Governance, and Risk Committees. This appointment coincides with the nearing completion of the previously announced sale of Hess Corporation to Chevron Corporation. Upon finalization of the sale, Mr. Hess is expected to step down from his leadership positions at Hess Corporation and Hess Midstream LP. He will then formally join the Board of Directors at Chevron.

Mr. Hess boasts a distinguished career within the energy sector. He has served as Chief Executive Officer of Hess Corporation since 1995 and assumed the additional role of Chairman and Chief Executive Officer of Hess Midstream LP in 2014. He has also held a Director position at Hess Corporation since 1978 and previously held the position of Chairman of the Board from 1995 to 2013. Additionally, Mr. Hess brings valuable experience from his past service as an independent director at KKR & Co., Inc. and Dow Chemical Company.

Goldman Sachs Chairman and CEO David Solomon expressed his enthusiasm regarding Mr. Hess’s appointment. “We are delighted to welcome John Hess to our Board of Directors,” Solomon stated. “His extensive leadership experience and proven track record in the energy industry will be invaluable assets to our company.”

The appointment of Mr. Hess to the Goldman Sachs Board signifies the continued importance the financial institution places on strong corporate governance and risk management. His proven leadership and experience within complex, highly regulated industries are anticipated to contribute significantly to the Board’s strategic decision-making processes.