Robert McCormick discusses the proposal to split the Chairman and CEO role at JPMorgan Chase & Co. at the 2013 Annual meeting. “[Glass Lewis has] generally supported the split of these two roles. As the shareholder representative, having the head of the board that’s responsible for [oversight] also be the head of the executive team who is being overseen is almost an insurmountable conflict.”
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David Eaton, Vice President of Proxy Research at Glass Lewis, explains his firm’s call for JPMorgan to split Jamie Dimon’s dual Chairman-CEO role on CNBC.
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From Bloomberg TV: Anne Simpson, senior portfolio manager at the California Public Employees’ Retirement System, and Robert McCormick, chief policy officer at Glass Lewis & Co., talk about Glass Lewis’s call for JPMorgan Chase & Co. to oust most of its board and split Jamie Dimon’s dual roles as chairman and chief executive officer. They speak with Erik Schatzker and Sara Eisen on Bloomberg Television’s “Market Makers.”
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Occidental Petroleum shareholders have voted executive chairman Ray Irani off of the board of directors. Following weeks of shareholder criticism regarding Mr. Irani’s control over the board and the (now postponed) decision to replace current CEO Stephen Chazen, it appears as though shareholders will have their cake and eat it too. Not only did the board agree to implement a swath of corporate governance and compensation policy changes and extend Mr. Chazen’s tenure, but long-time lead director Aziz Syriani (who resigned the day before the meeting) and Mr. Irani, are definitively out.
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As the dust begins to settle from a widely criticized and particularly contentious play by Mason Capital Management, a U.S. hedge fund, Telus can definitively claim its victory after approximately 81.1% of the total shares voted in favor of the Company’s share conversion, comprising 62.9% support from common shareholders and 99.5% support from non-voting shareholders.
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