Jamie Dimon and Entire JPM Board of Directors Overcome Shareholder Proposals
ThinkstockJ.P. Morgan Chase & Co. (NYSE: JPM) officially will be keeping Jamie Dimon as both Chairman and as Chief Executive Officer. The annual shareholder meeting showed that the vote to split the roles of Chairman and CEO received only 32%…
J.P. Morgan Chase & Co. (NYSE: JPM) officially will be keeping Jamie Dimon as both Chairman and as Chief Executive Officer. The annual shareholder meeting showed that the vote to split the roles of Chairman and CEO received only 32% of the votes.
While a vote of 32% of voting to split the roles might seem high, this is actually more supportive than it was in 2012 when shareholders voted some 40% of the votes to split the CEO and Chairman roles. It appears that Jamie Dimon won about 98% of shareholder support to remain as a director. All of the company’s directors were reelected as well.
As this has been reported on continuously ahead of the event, we will leave the rest of issues open until we have a breakdown of the actual votes by board member. J.P. Morgan shares are up 2.3% at $53.49 and that is a new post-recession high.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.