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Tuesday, May 21, 2013

Dimon role spared amid investor backlash

Dimon role spared amid investor backlash Shareholders at JPMorgan Chase delivered a big protest vote against the bank’s board but spared Jamie Dimon from an embarrassing defeat on a motion to strip him of his chairmanship.

More than 40 per cent of shareholders voted against the re-election of Ellen Futter, James Crown and David Cote as directors, potentially heralding a boardroom shake-up at the largest US bank by assets.

Mr Dimon, whose company engaged in a frantic lobbying effort for him to stay on as both chairman and chief executive, said afterwards there would be “a thoughtful and tempered response” to the vote.
http://link.ft.com/r/6NPSBB/4VIIB3/0GB0NQ/62OA1W/20SP2X/36/h?a1=2013&a2=5&a3=21

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