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JPMorgan (JPM -0.6%) announces the retirement of David Cote and Ellen Futter from the Board....

JPMorgan (JPM -0.6%) announces the retirement of David Cote and Ellen Futter from the Board. Only the timing was in question for this move as the two sat on the risk policy committee despite having limited or negative experience with such matters at financial institutions. Both were reelected at the May annual meeting, but with a slim majority of the vote, and management leaked board changes were coming.
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  • jstratt
    , contributor
    Comments (2584) | Send Message
     
    My translation would be that Cote likely had differences with Jaime Dimon over substantial issues like perhaps the Whale. Multiple Directors dont just quit or get replaced without a reason.
    19 Jul 2013, 12:28 PM Reply Like
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