Feb 20 A deal with shareholder activists will
allow JPMorgan Chase & Co to avoid another battle at its
spring shareholder meeting over whether the bank should have an
independent chairman, a person briefed on the matter said on
In exchange for the withdrawal of a shareholder proposal the
bank agreed to develop some type of public event on the criteria
boards should use in setting up the roles of chairman and chief
executive, this person said, speaking on condition of anonymity
because the news has not been officially announced.
In addition, the bank will provide more details of its risk
mitigation efforts, leading to the withdrawal of a related
proposal, this person said.