Dimon won't face split threat this year

Crack Split

Jamie Dimon, who survived a shareholder proposal in 2013 to split his chairman and CEO roles atop JPMorgan, won’t face the same threat this year.

Bloomberg reports that investors withdrew the only petition for the annual meeting that would’ve pressed the board to name an independent chairman, Joseph Evangelisti, a spokesman for the lender, said yesterday. That proposal, from Toledo, Ohio-based Needmor Fund, sought to separate the positions for Dimon’s eventual successor, the lender said in a statement.

Dimon, 57, kept both jobs at the biggest U.S. lender even as he agreed to more than $23bn in legal and regulatory settlements last year. Last May, a proposal to split the duties failed with 32% of shareholder votes. Dimon has had both roles since chairman William B. Harrison stepped down in 2006.

To access the complete Bloomberg article hit the link below:

Dimon Won't Face Another Investor Vote on JPMorgan Roles 

Trading Rebates Skew Markets, NYSE and Allies Tell SEC

 

image: © Tony Hall

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