Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

Jamie Dimon Dealt Rare Blow as JPMorgan Holders Reject Pay Plan

May 17, 2022, 8:09 PM

Jamie Dimon was handed a rare defeat from shareholders as they rejected a pay proposal, just months after the board unfurled lucrative incentives for the JPMorgan Chase & Co. chief to stay on for a number of years.

The pay packages for Dimon and other company leaders were supported by just 31% of shareholders, a tally announced at the bank’s annual meeting on Tuesday. The preliminary result marks the first time since 2009 -- when JPMorgan began seeking investor votes on pay -- that a majority of shareholders declined to back the firm’s measures.

The drubbing is a significant blow ...