secwatch.observer — SEC 8-K summary
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Issuer:     Lazard, Inc. (LAZ)
CIK:        0001311370
Form:       8-K
Filed at:   2023-05-26T23:59:59+00:00
Accession:  0000950157-23-000586
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1311370/000095015723000586/0000950157-23-000586-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1311370/000095015723000586/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0000950157-23-000586

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