NEW YORK (AP) — A coalition of investors said Wednesday that it filed a shareowner proposal that would split the chairman and CEO roles held by James Dimon at JPMorgan Chase since 2006.
The group holds about $820 million in JPMorgan shares and includes the AFSCME Employees Pension Plan, the ConnecticutRetirement Plans and Trust Funds, Hermes Equity Ownership Services and the NYC Pension Funds.
While a number of large U.S. companies combine the jobs of chairman and CEO, shareholders at a number of companies have pushed in recent years to separate them. Supporters argue that an independent chairman can provide a check on the CEO's power.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.