Lloyd Holds on to Chairmanship

98611576 Lloyd Holds on to ChairmanshipMax 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.