JPMorgan Chase & Co. shareholders should support a proposal to consider an independent chairman, proxy adviser Glass Lewis & Co. said. The shareholder proposal, which will be up for a vote at the firm’s annual meeting on May 17, doesn’t specifically target Jamie Dimon, who holds both the chairman and chief executive officer titles. While the measure is similar to ones shareholders have rejected in the past, it says the board could wait until Dimon leaves New York-based JPMorgan before implementing the plan. “We ultimately believe vesting a single person with both executive and board leadership concentrates too much responsibility in a single person and inhibits independent board oversight of executives on behalf of shareholders,” Glass Lewis wrote in a report this week and obtained by Bloomberg.
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