Allan Sloan: Why I voted to keep Jamie Dimon as Chairman and CEO
Allan Sloan, senior editor at large for Fortune magazine, explains why he voted to allow Jamie Dimon to keep his dual role as CEO and Chairman of JPMorgan Chase.
The country's most powerful banker gets to stay on as both CEO and Chairman at JPMorgan Chase. With the shareholder vote now tallied, 68 percent wanted Dimon to keep his dual role, despite the mess involving nearly $7 billion lost in some trades gone wild.
One man who had a horse in that race, albeit a very small horse, is Allan Sloan, senior editor at large for Fortune magazine. He voted to allow Dimon to maintain his dual title.
"This whole idea that you have to separate the chairmanship from the chief executive officer is just nonsense," Sloan says. "All it does is create another power center, another problem, another level of bureaucracy."
To hear more of Allan Sloan's thoughts on JPMorgan and its corporate structure, click on the audio player above.