---
schema_version: "secwatch.filing_event.v1"
accession: "0000950157-23-000586"
form_type: "8-K"
ticker: "LAZ"
cik: "0001311370"
company_name: "Lazard, Inc."
filed_at: "2023-05-26T23:59:59+00:00"
generated_at: "2026-06-14T12:36:33.417254+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950157-23-000586
- form_type: 8-K
- ticker: LAZ
- cik: 0001311370
- company_name: Lazard, Inc.
- filed_at: 2023-05-26T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1311370/000095015723000586/0000950157-23-000586-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1311370/000095015723000586/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950157-23-000586
- JSON: https://secwatch.observer/filing/0000950157-23-000586.json
- Plain text: https://secwatch.observer/filing/0000950157-23-000586.txt

## Key facts
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1311370/000095015723000586/0000950157-23-000586-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.