The California Public Employees’ Retirement System voted in favor of splitting Jamie Dimon’s dual roles as chairman and chief executive officer ahead of JPMorgan Chase & Co.’s annual shareholder meeting tomorrow.
Calpers, which cast votes for 12.9 million of the New York-based bank’s shares, also withheld support for three members of the board’s risk committee: Ellen Futter, president of the American Museum of Natural History, Honeywell International Inc. CEO David Cote and James Crown, president of Henry Crown & Co. The pension fund cited “failures in risk oversight” during last year’s record trading loss as a reason for withholding the votes, according to results posted on its website.
© Copyright 2013 Bloomberg News. All rights reserved.