The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Courtesy of the Goldman Sachs Group, Inc.

New York, USA - October 28, 2011

The Board of Directors of The Goldman Sachs Group, Inc. (NYSE: GS) today announced the election of M. Michele Burns as an independent director of the firm, effective yesterday.

Ms. Burns’ election expands the Board to 12 directors, 10 of whom are independent directors.

Ms. Burns will be a member of each of the firm’s Audit, Risk, Compensation and Corporate Governance and Nominating committees.

Lloyd C. Blankfein, Chairman and CEO of The Goldman Sachs Group, Inc. Courtesy of the Goldman Sachs Group, Inc.

“Michele brings a wealth of knowledge and experience to our board. Her background in finance as well as organizational management and leadership development will be of great value to our shareholders and our people,” said Lloyd C. Blankfein, Chairman and CEO of The Goldman Sachs Group, Inc.

Diversity is essential to our mission as a firm. It lets us develop better ideas, respond to the needs of our clients, and ensure that our people can work at their maximum potential. Learn more about our commitment to diversity and inclusion. Courtesy of the Goldman Sachs Group, Inc.

Ms. Burns was the Chairman and Chief Executive Officer of Mercer, a subsidiary of Marsh & McLennan Companies, Inc. and a global leader in human resource consulting, outsourcing and investment services, from September 2006 until earlier this month.

She was recently selected to plan and design a new Retirement Policy Center sponsored by Marsh & McLennan Companies.

The Center will focus on retirement public policy issues.
Once established, she will serve as the Center’s Executive Director.

Prior to joining Mercer, Ms. Burns served as the Chief Financial Officer of several public companies, including Marsh & McLennan Companies, Mirant Corporation and Delta Air Lines, Inc.

She began her career at Arthur Andersen LLP, holding various positions including Senior Partner and Leader of the Southern Regional Tax Practice.

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. We provide a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. Courtesy of the Goldman Sachs Group, Inc.

Ms. Burns is currently on the boards of Cisco Systems, Inc. and Wal-Mart Stores, Inc. and serves as a Board member and Treasurer of the Elton John AIDS Foundation.

She is a graduate of the University of Georgia, where she also received a Masters degree in accounting.


The Goldman Sachs Group, Inc.


The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.

Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.


Media Contact:
Lucas van Praag
Tel: 212-902-5400

Investor Contact:
Dane Holmes
Tel: 212-902-0300


Source: The Goldman Sachs Group, Inc.

http://www2.goldmansachs.com/media-relations/press-releases/current/mb-join-bod.html  



M. Michele Burns

Executive Director, Retirement Policy Center, sponsored by Marsh & McLennan Companies, Inc.

Michele Burns Courtesy of the Goldman Sachs Group, Inc.

Director Since: October 2011

Committees: Member, all standing committees
Other Current Public Company Directorships: Cisco Systems, Inc., Wal-Mart Stores, Inc.
Other Public Company Directorships within past 5 years: None.

Career Highlights

• Executive Director, Retirement Policy Center, sponsored by Marsh & McLennan Companies, Inc., Ms. Burns is currently responsible for the planning and design of the new center, which will focus on retirement public policy issues, and will serve as its Executive Director once established (October 2011– present)

• Chairman and Chief Executive Officer, Mercer LLC, a subsidiary of Marsh & McLennan Companies and a global leader in human resource consulting, outsourcing and investment services (September 2006 – early October 2011)

• Chief Financial Officer, Marsh & McLennan Companies, a global professional services and consulting firm (March 2006 – September 2006)

• Chief Financial Officer, Chief Restructuring Officer and Executive Vice President, Mirant Corporation, a competitive energy company (May 2004 – January 2006)

• Executive Vice President and Chief Financial Officer, Delta Air Lines, Inc., an air carrier, which filed for protection under Chapter 11 of the United States Bankruptcy Code in September 2005 (including various other positions, 1999 – April 2004)

• Senior Partner and Leader, Southern Regional Tax Practice, Arthur Andersen LLP, an accounting firm (including various other positions, 1981-1999)

Other Professional Experience and Community Involvement

• Board member and Treasurer, Elton John AIDS Foundation

Experience and Qualifications

As the former Chief Financial Officer of several global public companies, Ms. Burns brings to the board substantial expertise in accounting and the review and preparation of financial statements.

In addition, as the former Chief Executive Officer of Mercer, Ms. Burns brings to our Board her experience in human capital management and strategic consulting, which will assist the Board in its oversight of the firm’s strategy.

Through her service on the boards of directors and board committees of other public companies and not-for-profit entities,

Ms. Burns has developed additional leadership and corporate governance expertise.


Source: The Goldman Sachs Group, Inc.

http://www2.goldmansachs.com/who-we-are/leadership/board-of-directors/02-m.michele.burns.html  



Lloyd C. Blankfein

Chairman and Chief Executive Officer of The Goldman Sachs Group, Inc.

Lloyd C. Blankfein Courtesy of the Goldman Sachs Group, Inc.

Mr. Blankfein has been our Chairman and Chief Executive Officer since June 2006, and a director since April 2003.

Previously, he had been our President and Chief Operating Officer since January 2004.

Prior to that, from April 2002 until January 2004, he was a Vice Chairman of Goldman Sachs, with management responsibility for Goldman Sachs’ Fixed Income, Currency and Commodities Division (FICC) and Equities Division (Equities).

Prior to becoming a Vice Chairman, he had served as co-head of FICC since its formation in 1997.

From 1994 to 1997, he headed or co-headed the Currency and Commodities Division.

Mr. Blankfein is not currently on the board of any public company other than Goldman Sachs.

He is affiliated with certain non-profit organizations, including as a member of the Dean’s Advisory Board at Harvard Law School, the Dean’s Council at Harvard University and the Advisory Board of the Tsinghua University School of Economics and Management, an overseer of the Weill Medical College of Cornell University, and a member of the Board of Directors of the Partnership for New York City.


Source: The Goldman Sachs Group, Inc.

http://www2.goldmansachs.com/who-we-are/leadership/executive-officers/01-lloyd-c-blankfein.html  



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