Goldman Sachs Chairman and CEO Lloyd Blankfein said Tuesday he has been diagnosed lymphoma.
“Late this summer after several weeks of not feeling well, I underwent a series of tests, which culminated in a biopsy last week,” Blankfein said in a release. “Fortunately, my form of lymphoma is highly curable and my doctors’ and my own expectation is that I will be cured.”
Blankfein, who is 61 years old, added that he will be able to “work substantially as normal, leading the firm” while undergoing treatment, but will “reduce some of my previously planned travel during the treatment period. I have discussed this approach with our Board of Directors and they are supportive.”
Goldman Chief Operating Officer Gary Cohn will have enhanced responsibilities while Blankfein undergoes treatment, a source told CNBC.
“This is coming at the wrong time for Goldman Sachs in the sense that, about a year ago, after doing a study which had taken a year, Goldman was asking itself ‘What should we be doing in the next five years?’ … And they came up with this memorandum, which was given to the board and it has put a series of major changes,” Rafferty Capital’s Dick Bove told CNBC’s “Squawk Box.”
“Goldman Sachs is undergoing massive changes to its structure to set itself into what banking will look like 20 years from now, and obviously Lloyd Blankfein is a key person in executing that,” Bove added.
According to the Leukemia and Lymphoma Society, there are over 760,000 people living with, or in remission from, lymphoma in the U.S.
The organization also notes that the five-year survival rate for people with Hodgkin Lymphoma has more than doubled “from 40 percent in whites from 1960-1963 (only data available) to 87.7 percent for all races in 2004-2010.”