JPMorgan
Chase & Co (JPM.N)
shareholders will again vote on a proposal calling for the board to select a
chairman who is not the company's chief executive,
according to a proxy statement filed on Wednesday for the company's annual meeting on May 16.
according to a proxy statement filed on Wednesday for the company's annual meeting on May 16.
The board
said in the proxy that it is against the measure, which was proposed by a
shareholder who contends that good corporate governance requires an independent
chairman. The board and current Chairman and Chief Executive Jamie Dimon have
defeated similar proposals in the past.
A year ago,
a similar proposal received only 32.6 percent of votes cast at the annual
meeting of the company, which is the biggest U.S. bank by assets. The biggest
share the measure has won recently was 40 percent in 2012.
Bank of
America Corp (BAC.N),
the second-biggest U.S. bank, also has one person who is both chairman and
chief executive and will hold a vote on a similar shareholder proposal on April
26.
Wells Fargo
& Co (WFC.N)
and Citigroup Inc, (C.N) the
third and fourth biggest U.S. banks, have different people in the two roles.
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