-
Whatever the outcome of Tuesday's vote over Jamie Dimon's dual titles at JPMorgan Chase, the debate raging at the country's largest bank will increase the pressure on bank boards to split up chairman/CEO roles in the future.
May 17 -
The Chairman/CEO split issue is a sideshow. No one has considered the troubling implications of a large, crazy, lucky bet the London Whale made the year before his infamous money-losing trades.
May 17
JPMorgan Chase's (JPM) Jamie Dimon won a resounding victory Tuesday in a
Only 32.2% of shareholders voted in favor of a shareholder proposal to separate the two roles, according to preliminary results from JPMorgan's annual meeting on Tuesday. The vote was nonbinding but closely followed, and JPMorgan's board has spent the past several weeks rallying support for Dimon. Leading proxy advisory firms, including Institutional Shareholder Services, had recommended the split.
The shareholder proposal received less support this year than it did a year ago, when about 40% of investors voted in favor of splitting Dimon's dual roles.
