In a memo sent to employees and filed on the SEC's website, Goldman Sachs chairman and CEO Lloyd Blankfein revealed Tuesday morning that he has a "highly curable" form of lymphoma.
Blankfein said that after weeks of not feeling well, he underwent a series of tests that led to a biopsy last week. That biopsy produced a lymphoma diagnosis, but Blankfein said that both he and his doctors are optimistic that he will make a full recovery.
He said he will undergo chemotherapy in New York City for the next several months, and that his doctors have advised him that he will be able to "work substantially as normal." He will, however, reduce some of his previously-planned travel -- a move that he says he has discussed with the board and with which they are supportive.
Blankfein, who is 61, has been the chairman and CEO of Goldman Sachs since June of 2006. He is hardly the first Wall Street CEO to receive a cancer diagnosis while at the head of a multi-billion dollar business: last July, JPMorgan CEO Jamie Dimon revealed that he had been diagnosed with throat cancer. It, too, was a highly treatable form of the disease, and by December of 2014 Dimon said that he had "no evidence of cancer" in his body. And in April of 2012, billionaire Warren Buffett disclosed that he was undergoing treatment for prostate cancer; by September of that year, he announced that he had finished his treatments.
Here is the full text of the letter Blankfein posted Tuesday morning:
To my colleagues, our clients and our shareholders,
Late this summer after several weeks of not feeling well, I underwent a series of tests, which culminated in a biopsy last week. After the biopsy, I was told by my doctors that I have lymphoma. Fortunately, my form of lymphoma is highly curable and my doctors' and my own expectation is that I will be cured.
My treatment plan will include chemotherapy over the next several months in New York. My doctors have advised me that during the treatment, I will be able to work substantially as normal, leading the firm. I will, however, reduce some of my previously planned travel during the treatment period. I have discussed this approach with our Board of Directors and they are supportive.
There are many people who are dealing with cancer every day. I draw on their experiences as I begin my own. I have a lot of energy and I'm anxious to begin the treatment. I appreciate your support and good wishes.
Lloyd
Goldman stock, which has gained 22% during Blankfein's tenure, dropped 1.72% in the wake of the news Tuesday morning. Year-to-date, shares of the bank are down 5.4%.
