Are we finally due for the end of the speculation about the fate of Goldman Sachs CEO Lloyd Blankfein?

The battle for succession is heating up as people have been predicting for well over a year that Blankfein will “soon” step down. At some point, the predictions were bound to come true.

We’ve been suggesting that the board might soon be at a point at which it can begin a transition in a way that does not make it look as if Blankfein is being pushed out due to events. Appearances are very important. While the bank’s earnings woes recently are not making things easier, the board may finally ready to make a switch. The big question has always been who would replace him.

In a twist, Fortune reports that Goldman Sachs President Gary Cohn appears likely to get the nod. That constitutes a surprise, as many assumed that Cohn was so tightly linked to Blankfein that he would not represent enough of a break with the past. But the point may be to establish continuity.

The leak to Fortune obviously came from someone sympathetic to Cohn and perhaps hostile to J. Michael Evans, who some saw as the frontrunner. The article says Evans tried to position himself to become the CEO and that his situation would be “precarious” if Cohn is tapped for the top job.

There’s obviously a lot of internal jockeying going on, and frankly it does not reflect well on the company. When these sorts of jockeying moves spill out into the press, you know it is getting nasty. This isn’t necessarily the definitive word on the matter, but the issue is obviously hearting up and the board may be ready to make its move.

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