Great News!!! Angry JP Morgan shareholders seek to strip Jamie Dimon of chairmanship

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4. Ain't happening --"JPMorgan investors take heat off Dimon"

Some of JPMorgan Chase’s largest shareholders are sparing Jamie Dimon but voting against other directors in a contentious ballot on the board of the largest US bank, according to people familiar with the matter.

Large shareholders and other people familiar with early voting patterns said an investor proposal to strip Mr Dimon, the chief executive, of his dual role as chairman was on track to gather less than 50 per cent of the vote.

However, some large investors who are backing Mr Dimon are voting against the re-election of other board members, leaving in doubt the position of directors such as Ellen Futter, a lightning rod for corporate governance activists, whose qualifications to serve on the board’s risk committee have been questioned.

http://www.ft.com/intl/cms/s/0/153d8a7a-bcbc-11e2-9519-00144feab7de.html

In 2012, Futter came under criticism as one of the three members of JP Morgan Chase's Risk committee after the bank has been under siege since CEO Jamie Dimon said May 10 that the firm’s chief investment office suffered a $2 billion loss trading credit derivatives. Futter headed the audit committee of Bristol-Myers, a New York-based drugmaker, during an accounting scandal that began in 1999 and that the company settled for $300 million to avoid criminal prosecution. She also served on AIG’s compliance and governance committees, resigning in July 2008 before the insurer took a $182.3 billion bailout from the U.S. government.

http://en.wikipedia.org/wiki/Ellen_V._Futter