Hess CEO to join Goldman Sachs board as independent director

NEW YORK (Reuters) – John Hess, CEO of Hess Corp (NYSE:) , has joined the board of Goldman Sachs as independent director, the Wall Street firm said on Monday.

He is the latest addition to the board after senior banking executive Tom Montag joined as an independent director last year.

He will also become a member of the Goldman board’s compensation, governance and risk committees, the statement said.

Hess Corp did not offer a comment on the matter.

Since 1995, Hess has served as chief executive officer of Hess Corp, which is being sold to Chevron (NYSE:) in a $53 billion deal, which is still under review by U.S. regulators.

The deal is also embroiled in an arbitration battle with Exxon Mobil (NYSE:) and CNOOC (NYSE:), Hess’ partners in a lucrative Guyana oil-production joint venture.

Goldman Sachs is advising Hess on the deal.

“Advising companies and their management teams is a core part of our business, and we’re thrilled to have John Hess, a long-standing client, join our board,” Goldman said in an email.

Hess will retire from his company roles and join the board of directors of Chevron. He has also served as an independent director at KKR & Co (NYSE:) and Dow Chemical in the past.

Goldman Sachs CEO David Solomon said in the statement the company’s board, management team and shareholders will benefit from Hess’ nearly 30 years of experience as a public company CEO.