Lloyd Holds on to Chairmanship

Max Abelson dropped by the Goldman Sachs shareholder meeting this morning, and told me today’s affair was much more lively and light-hearted than the long, painful grilling the company received in Washington last week.

Despite an S.E.C. investigation and a slide in its stock price, the company had some big earnings to talk about today, and–perhaps even better news for Lloyd Blankfein–shareholders shot down a proposal to strip him of his chairmanship.

The proposal would have split the offices of chairman and chief executive, which would have been a significant blow to Mr. Blankfein’s authority. But the early returns only had 19 percent of shareholders supporting the notion. The shareholders also re-elected all the directors.

So, whatever grousing might be going on behind closed doors, the company looks determined to stay its current course.