John Bryan and Lois Juliber will not stand for re-election to the board of directors at Goldman Sachs’ next annual meeting of shareholders.

Bryan has been a director and member of each of the board’s standing committees since 1999 and is retiring in line with the firm’s retirement policy. He is also lead director and chair of the board’s corporate governance and nominating committee, and will be replaced in these capacities by James Schiro.

Schiro has been a director since May 2009 and chair of the audit committee since September 2010. He was previously chief executive of Zurich Financial Services and CEO of PricewaterhouseCoopers before that.

M Michele Burns, who has served as a director since October 2011, will be replacing Schiro in his role on the audit committee.

Meanwhile, Juliber, who has been a director of Goldman Sachs since March 2004, is also stepping down. She recently helped to oversee the work of the business standards committee at the firm.