“John Stumpf, chief executive and chairman of Wells Fargo, the US bank, recently survived a shareholder attempt to remove the chairman part of his job title. On May 21, many of the same shareholders will take another run at JPMorgan Chase, where a motion in favour of splitting the chairman and chief executive roles won 40 per cent support last year.”
“Why are shareholders so enamoured of dividing the two top roles? Is their case any stronger to do so in the so-called systemically important global megabanks?”
Read Anthony Goodman’s full Financial Times column here.