NEW YORK (Reuters) – John Hess, CEO of Hess Corp, has joined the board of Goldman Sachs as an independent director, the Wall Street firm said on Monday.
He is the latest addition to the board after senior banking executive Tom Montag joined as an independent director last year.
He will also become a member of Goldman’s board compensation, governance and risk committees, the statement said.
Hess Corp had no comment on the matter.
Since 1995, Hess has served as CEO of Hess Corp, which is being sold to Chevron in a $53 billion deal that is still under review by U.S. regulators.
The deal is also embroiled in an arbitration battle with Exxon Mobil and CNOOC, Hess’ partners in a lucrative oil production joint venture in Guyana.
Goldman Sachs is advising Hess on the deal.
“Advising companies and their management teams is an essential part of our business, and we are excited to have John Hess, a long-time client, on our board,” Goldman said in an email.
Hess will retire from his role at the company and join Chevron’s board of directors. He has also served as an independent director at KKR & Co and Dow Chemical in the past.
Goldman Sachs CEO David Solomon said in the statement that the company’s board, management team and shareholders will benefit from Hess’ nearly 30 years of experience as a public company CEO.
(Reporting by Saeed Azhar in New York; Editing by Matthew Lewis and Marguerita Choy)
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