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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 -
The heart of the issue is not who holds what titles, but whether a companys governance processes are functioning as they should.
May 15
On Tuesday, JPMorgan Chase shareholders will vote on a proposal to strip Jamie Dimon of his dual title as chairman and CEO. The banking industry appears divided on the issue.
Several pundits and bankers have rushed to defend Dimon and his stewardship of the bank with the "
American Banker readers were slightly less divided on the issue. According to the results of our
But, while there's been ample debate over what should happen, there's no clear indication of how the vote will ultimately play out.
Earlier this month, Dimon's ouster as chairman appeared to be a definite possibility with two major proxy firms,
But the bank stepped up its lobbying efforts, prompting certain
Should this number grow to a majority, there's no guarantee anything will actually change. The proposal is nonbinding and the board has continually voiced strong support for Dimon as chairman and CEO. There is also the possibility that Dimon will vacate both roles, given
How do you think the vote tomorrow is likely to play out? Will shareholders support Dimon? And if they vote against him, is the board likely to heed their recommendation? Would Dimon really quit if the vote goes against him? Leave a comment below.
Jeanine Skowronski is the deputy editor of BankThink. You can contact her at