Climate activists claim win as JPMorgan sets timetable for new lead director
New York City's annuity finance pioneer guaranteed success on Friday after JPMorgan Pursue (NYSE: JPM) and Co set a timetable to supplant its lead autonomous executive, a previous Exxon Mobil Corp (NYSE: XOM) President who had become the focal point of analysis of the bank's atmosphere record.
The executive, Lee Raymond, who is on the ballot at the bank's yearly gathering on May 19, had prior requested that the board start a conventional procedure to discover a replacement for the lead-free chief job, JPMorgan said already.
Be that as it may, in a protections documenting on Thursday JPMorgan said it intends to name another lead autonomous chief "by end of summer 2020." A JPMorgan representative declined to remark past the language in the filings.
Stringer's office in its battle against Raymond had referred to JPMorgan's loaning to non-renewable energy source organizations and Raymond's long residency on JPMorgan's board.
Institutional Investor Administrations on Thursday had suggested speculators back all JPMorgan executives, however, called its help for Raymond "preventative" all together "to pass on that extra, new autonomous oversight is essential as the procedure to discover his replacement unfolds.