---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-096821"
form_type: "8-K"
ticker: "LAZ"
cik: "0001311370"
company_name: "Lazard, Inc."
filed_at: "2022-04-06T23:59:59+00:00"
generated_at: "2026-06-26T09:03:36.972937+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Lazard extends retention agreements for Jacobs, Russo, Orszag to 2025; Bhutani and Stern to retire

## Summary
- Jacobs, Russo, Orszag get extended retention agreements through March 31, 2025, with change-in-control extension.
- Russo to become CEO of Lazard Asset Management by June 1, 2022, succeeding Bhutani.
- Bhutani resigns as LAM CEO June 1, 2022, remains Chairman of Asset Mgmt and Vice Chairman through Dec 31, 2022.
- Stern resigns as President effective Dec 31, 2022; not due to dispute with Company.
- Severance: Qualifying Termination pays 2x base salary plus average bonus; 1x if not renewed (Russo/Orszag).

## SEC filing metadata
- accession: 0001193125-22-096821
- form_type: 8-K
- ticker: LAZ
- cik: 0001311370
- company_name: Lazard, Inc.
- filed_at: 2022-04-06T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1311370/000119312522096821/0001193125-22-096821-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1311370/000119312522096821/d269419d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-096821
- JSON: https://secwatch.observer/filing/0001193125-22-096821.json
- Plain text: https://secwatch.observer/filing/0001193125-22-096821.txt

## Key facts
- Executive change
  Evan L. Russo was appointed as Chief Executive Officer of Lazard Asset Management at Lazard, Inc..
  - Action: appointed
  - Role: Chief Executive Officer of Lazard Asset Management
  source text: Mr. Russo’s extended retention agreement provides that he will become Chief Executive Officer of the Firm’s Asset Management business, including Chief Executive Officer of Lazard Asset Management LLC (“ LAM ”), no later than June 1, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1311370/000119312522096821/0001193125-22-096821-index.htm

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