FUNDRAISING NEWS | November 25, 2024
In the culmination of a multi-year succession planning process, Lazard named a new lead independent director to its board and the appointment of CEO Peter Orszag as chairman, effective January 1, 2025.
Orszag will assume the chairmanship from Kenneth Jacobs, who will relinquish his position as the board’s executive chairman at year-end but will stay on to serve as senior chairman and senior board advisor. Meanwhile, board member Dan Schulman will assume the role of lead independent director from Richard Parsons, who will remain on the board.
Orszag has served as CEO since 2023 after heading the firm’s financial advisory and North American M&A operations. Before joining Lazard he was director for the Office of Management and Budget and Congressional Budget Office during the Obama administration.
Schulman joined Lazard's board on February 1 and also serves on the boards of Cisco Systems and Verizon Communications. He has previously held CEO roles at multiple firms, including PayPal and American Express.
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