JPMorgan says Lee Raymond to leave board
Reuters
Published Dec 18, 2020 10:00AM ET
(Reuters) - JPMorgan Chase & Co (NYSE:JPM) said on Friday that Lee Raymond had notified the bank of his intention to step down as a member of the its board at the end of the year.
The bank in September had appointed Stephen Burke to take over Raymond's role as the lead independent director effective Jan. 1.
Raymond, the former chief executive officer at Exxon Mobil Corp (NYSE:XOM), was the target of a vote-out campaign by environmental groups as he become the focus of criticism of JPMorgan's climate record.
Following the campaign, JPMorgan said it was planning to name a new lead independent director "by end of summer 2020". However, Raymond was re-elected to the Board by shareholders at the bank's annual meeting on May 19 this year.
Raymond's resignation from the board was not the result of any disagreement with the company, the bank said in a filing https://www.sec.gov/ix?doc=/Archives/edgar/data/19617/000001961720000532/jpm-20201218.htm on Friday.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.