“It is a great honor to have been suggested as a potential board member of JPMorgan Chase – by Sheila Bair in an interview in DealBook in The New York Times last week.”
“Given the daunting problems that continue to face your corporation, I have thought long and hard about whether to allow my nomination to go forward. Upon reflection, I have decided that further change at the top of JPMorgan Chase would be helpful to you, to the financial system and to the broader economy. That is not to say I am seriously proposing myself for the board; rather, I am making serious proposals regarding what the board should do, and I hope powerful shareholders will think harder about whom to support on the board.”
“Management may not be inclined to include me in its official slate of candidates ahead of the annual meeting of shareholders in May, so I would like to take this opportunity to explain directly to you what would be my top three priorities if elected. (Last year, the company arranged the re-election of all directors and then dropped those who had become controversial; shareholder pressure matters.)”
Read full New York Times article here.