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.
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image: © Tony Hall