Lazard appoints Peter Orszag as CEO effective Oct 1, 2023; Jacobs becomes Executive Chairman

Lazard, Inc.

Peter R. Orszag, currently CEO of Financial Advisory, elected CEO and board director, effective October 1, 2023.
Kenneth M. Jacobs transitions from Chairman/CEO to Executive Chairman, continuing client advisory role.
Orszag's base salary set at $900,000; Jacobs' base salary at $750,000 effective Transition Date.
Amendments to retention agreements with Orszag, Jacobs, and CFO Russo extend term to March 2028 or later after change of control.
Orszag joined Lazard in 2016; previously served as CBO Director and OMB Director in Obama Administration.

item 5.02 item 7.01 item 9.01

Executive movements

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Role change

Kenneth M. Jacobs

Executive Chairman of the Board of Directors

LAZ · Lazard, Inc.

Effective: 2023-10-01
Successor: Peter R. Orszag
Filed: May 26, 2023, 7:59 PM ET

Mr. Jacobs will cease to serve as Chief Executive Officer of the Company and Lazard Group as of the Transition Date and has been appointed Executive Chairman of the Board of Directors of the Company, effective as of the Transition Date.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Kenneth M. Jacobs was appointed as Executive Chairman of the Board of Directors at Lazard, Inc..

Action: appointed
Role: Executive Chairman of the Board of Directors

Exact text from the filing

Mr. Jacobs will cease to serve as Chief Executive Officer of the Company and Lazard Group as of the Transition Date and has been appointed Executive Chairman of the Board of Directors of the Company, effective as of the Transition Date.

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Lazard, Inc. filing history →

Source: SEC EDGAR

accession 0000950157-23-000586

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