Three of JPMorgan's (JPM) largest shareholders - BlackRock, Vanguard, and Fidelity controlling...


Three of JPMorgan's (JPM) largest shareholders - BlackRock, Vanguard, and Fidelity controlling over 12% of the stock - remain undecided in the coming vote over whether to split the Chairman and CEO roles, reports the WSJ. The split proposal received 40% of the vote in 2012, when all 3 voted against it. The vote itself in nonbinding, but the board would likely face great pressure to act if it receives more than 50%. Update at 7:25: Proxy-adviser Glass Lewis comes out in support of splitting the roles (ISS yesterday).

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Comments (4)
  • Tom Au, CFA
    , contributor
    Comments (6879) | Send Message
     
    The chairman is a representative of the shareholders. The CEO is the representative of management. The roles should be split.

     

    Unless the CEO and management also own a majority of the stock (as has been the case with Warren Buffett and Berkshire Hathaway).
    7 May 2013, 09:22 AM Reply Like
  • rkadari
    , contributor
    Comments (83) | Send Message
     
    Well Said Tom Au
    7 May 2013, 03:33 PM Reply Like
  • kingcozzi
    , contributor
    Comments (131) | Send Message
     
    JPM is too big for one man, split the roles.
    7 May 2013, 12:23 PM Reply Like
  • Preferred Research
    , contributor
    Comments (807) | Send Message
     
    Asleep at the switch when it came to the London Whale.

     

    Split the roles.
    7 May 2013, 02:51 PM Reply Like
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