Q: What do Warren Buffett, Rupert Murdoch, Mayor Michael
Bloomberg, former Treasury secretary Hank Paulson, venture capitalist Marc Andreessen,
and Home Depot co-founder Ken Langone have in common? (Besides being rich white
men, that is.) A: All of them joined
Jamie Dimon in battle as the JPMorgan Chase CEO fought to keep his job as the
bank's board chairman.
From New York Magazine: "Corporate governance isn't usually a sexy topic….The threat
of having Dimon taken down a peg — and potentially having him quit altogether
in protest — was enough to send JPMorgan into a furious behind-the-scenes
lobbying effort to keep the popular CEO in power.
"...The effort to keep Dimon looked more like a presidential
campaign than a normal lobbying effort. Executives divided and conquered: Joe
Evangelisti and Kristin Lemkau, two of JPMorgan's top spokespeople, contacted
reporters and influential columnists and got messages of support placed in
visible spots like Politico's "Morning Money" newsletter; William
Daley, a former JPMorgan Chase executive and President Obama's former chief of
staff, was tasked with reaching out to union leaders; Sarah Youngwood, the
bank's investor relations head, and Marianna Lake, the bank's CFO, were
dispatched to make nice with large shareholders and pension funds; and bank
executives including Jimmy Lee, the bank's top deal-maker, called top corporate
leaders to urge them to support Dimon in their public appearances….
Read all about it at http://nymag.com/daily/intelligencer/2013/05/how-jamie-dimon-kept-his-job.html
No comments:
Post a Comment