Case | HBS Case Collection | October 2012 (Revised February 2013)

Jim Johnson's Re-election to the Goldman Sachs Board

by Suraj Srinivasan and Kelly Baker


The case presents the opposition by a leading institutional investor in Goldman Sachs to the re-election of Jim Johnson to the board of directors of the company. The investor, Sequoia Fund, opposes the re-election citing Jim Johnson's prior track record as the CEO of Fannie Mae, which has been criticized for its role in the financial crisis and for serving on the compensation committees of two companies that experienced option backdating scandals. The case allows students to discuss issues surrounding director performance assessment, director elections, investor engagement with companies, and director reputation.

Keywords: board of directors; corporate governance; director elections; Goldman Sachs; reputation; institutional investing; Governing and Advisory Boards; Corporate Accountability; Banking Industry; New York (city, NY);


Srinivasan, Suraj, and Kelly Baker. "Jim Johnson's Re-election to the Goldman Sachs Board." Harvard Business School Case 113-050, October 2012. (Revised February 2013.)