New York City's pension fund leader claimed a win on Friday after JPMorgan Chase & Co set a timetable to replace its lead independent director, a former Exxon Mobil Corp CEO who had become the focus of criticism of the bank's climate record.
FILE PHOTO: People walk by the JP Morgan & Chase Co. building in New York in an October 24, 2013 file photo. REUTERS/Eric Thayer
The director, Lee Raymond, who is up for re-election at the bank’s annual meeting on May 19, had earlier asked the board to start a formal process to find a successor for the lead independent director role, JPMorgan said previously.
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