Dimon, JPMorgan board members, survive vote -- some just barely

May 21, 2013 at 12:36 PM
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TAMPA, Fla., May 21 (UPI) -- The chairman and chief executive officer at U.S. financial giant JPMorgan Chase survived a shareholder vote to have his job split in two, vote tallies show.

Shareholders did not turn out any of the bank's 10 directors in a vote Tuesday, although members of the bank's risk oversight committee each received less than 60 percent approval.

The bank's top executive, James Dimon, was voted back onto the board with a 98 percent vote of confidence. In addition, only 32.2 percent of shareholders voted to have his job split in two, which is a smaller percentage than last year when 40 percent voted in favor of splitting his job titles into two positions.

The votes were closely watched as the bank suffered more than $6 billion in trading losses at an office in London that has shaken the bank's leaders, triggering the departure of several top executives.

The Wall Street Journal reported all the board members were re-elected with the lowest percentage of yes votes going to Ellen Futter, the president of the American Museum of Natural History and a member of the bank's risk oversight committee.

Futter received 53.1 percent of the vote while David Cote, another committee member, received 59.3 percent and James Crown, the committee's chairman, received 57.4 percent.

No other board members received less than 91 percent approval, the Journal noted.

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