The Wall Street Journal reported Saturday that BlackRock Inc (BLK.N) CEO Larry Fink has been grooming five key leaders to succeed him.
The CEO, Fink, and President Robert Kapito have been educating these contenders for “The Great Race” to determine the successor, which Fink deems his “No. 1 priority,” according to the newspaper.
The article named Mark Wiedman, worldwide commercial business head; Rob Goldstein, COO; Martin Small, CFO; Rachel Lord, Asia Pacific business head; and Salim Ramji, ETFs, and indexing products head, as the five candidates.
Fink told the newspaper he wanted the five to work together by building friendship, not competitiveness.
The report added Fink “would prefer to not be at BlackRock in his late 70s” and may remain chairman after retiring as CEO.
BlackRock didn’t respond to Reuters’ request for comment.
Last year, activist hedge fund Bluebell Capital Partners called BlackRock inconsistent in its ESG focus and wanted Fink replaced as CEO. BlackRock says it won’t modify its company interactions.
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