Lazard Appoints Dan Schulman as Lead Independent Director and Peter R. Orszag as Chairman of the Board
25 Noviembre 2024 - 7:00AM
Business Wire
Kenneth M. Jacobs Becomes Senior Chairman of
the Firm
Richard D. Parsons Honored for Board
Service
Lazard, Inc. (NYSE: LAZ) today announced that Dan Schulman,
Board Member, has been appointed Lead Independent Director to
succeed Richard D. Parsons, who remains on the Board, and that
Peter R. Orszag, Lazard CEO and Board Member, has been appointed
Chairman of the Board, effective January 1, 2025.
Kenneth M. Jacobs, Executive Chairman and Board Member, will
become Senior Chairman of the Firm and Senior Advisor to the Board,
and relinquish his board seat effective December 31, 2024. In his
role as Senior Chairman, Mr. Jacobs will continue to advise many of
the firm’s most important clients and relationships globally.
These transitions represent a successful, multi-year succession
planning process across Board and senior leadership at the
firm.
“It is a privilege to take on the role of Lead Independent
Director and help guide Lazard into its next phase of growth,” said
Mr. Schulman. “Peter has set forth an ambitious agenda, and it is
increasingly clear that the firm is at an inflection point. On
behalf of the Board, we thank Dick and Ken for their service, and I
look forward to continuing to build and strengthen the firm for
future success.”
“I am honored to serve as Chairman and CEO of Lazard, working
with Dan, our Board, senior leadership, and our entire team to
achieve our long-term vision for Lazard 2030,” said Mr. Orszag. “I
am grateful for Dick’s dedication over the years and Ken’s
contribution to our business over the past year while serving as
Executive Chairman. It is a privilege to support our clients,
shareholders, and colleagues as a steward of Lazard’s distinguished
legacy.”
“As Executive Chairman of the Board over the past year and now
Senior Chairman of the Firm, I have had the opportunity to return
to what attracted me to this business in the first place, which is
advising clients,” said Mr. Jacobs. “The firm is well positioned
for success under Peter’s expanded leadership. I would like to
thank Dick for his wisdom and advice to me over the years, and for
his service as a Board Member, and I congratulate Dan on his new
role as Lead Independent Director.”
Mr. Orszag became Lazard CEO on October 1, 2023, after joining
the firm in 2016 and serving as its CEO of Financial Advisory, Head
of North American Mergers & Acquisitions, and Global Co-Head of
Healthcare. Prior to that, he served as the Director of the Office
of Management and Budget in the Obama Administration, and before
that as the Director of the Congressional Budget Office.
Mr. Schulman joined Lazard as a Board member on February 1,
2024. He also serves on the boards of Cisco Systems and Verizon
Communications, and prior management roles include CEO of PayPal,
Group President at American Express, President at Sprint Nextel
Corporation, founding CEO of Virgin Mobile USA, President and CEO
of Priceline Group, and a series of positions at AT&T including
President of the Consumer Markets Division.
Mr. Jacobs joined Lazard in 1988, and over the past 36 years, he
has led numerous landmark transactions for clients across the firm.
Most recently, as Executive Chairman, he devoted his focus to
advising clients on strategic and financial matters. Mr. Jacobs
served as Chairman and Chief Executive Officer of Lazard from
November 2009 to September 2023.
About Lazard
Founded in 1848, Lazard is one of the world's preeminent
financial advisory and asset management firms, with operations in
North and South America, Europe, the Middle East, Asia, and
Australia. Lazard provides advice on mergers and acquisitions,
capital markets and capital solutions, restructuring and liability
management, geopolitics, and other strategic matters, as well as
asset management and investment solutions to institutions,
corporations, governments, partnerships, family offices, and high
net worth individuals. For more information, please visit
www.lazard.com.
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Media Relations
Shannon Houston +1 212-632-6880 shannon.houston@lazard.com
Jessica Francisco +1 212-632-6571
jessica.francisco@lazard.com
Investor Relations
Alexandra Deignan +1 212-632-6886
alexandra.deignan@lazard.com
Lazard (NYSE:LAZ)
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