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Dick Bove: Dimon Will Leave if He Loses Chairman Role

Rafferty Capital bank analyst Dick Bove spoke with FOX Business Network (FBN) about whether JPMorgan Chase Chairman and CEO Jamie Dimon will leave the bank if shareholders vote to split the chairman and CEO roles. Bove said if shareholders vote to remove Dimon as chairman it would prompt Dimon’s exit and that “if he loses the vote, the vote of confidence would be with the government… In reality, this is no longer a corporate governance issue. It’s all about what the government wants to do with this guy.”

Dick Bove: Dimon Will Leave if He Loses Chairman Role

Video and excerpts from Dick Bove interview below

On whether JPMorgan Chase Chairman and CEO Jamie Dimon will leave the bank if shareholders vote to split the chairman and CEO roles:

“JPMorgan (JPM) chief executive Jamie Dimon will leave the big bank if he loses a key shareholder vote next week that would strip him of a chunk of his power, several Wall Street analysts told FOX Business…Rafferty Capital analyst Dick Bove said it’s unclear as of now how the vote to split Dimon’s job will turn out. But if shareholders vote to remove Dimon as chairman it would be seen as a rebuke to his leadership, and would prompt Dimon’s exit, Bove told FOX Business. ‘If he loses the vote, the vote of confidence would be with the government,’ Bove said. ‘In reality, this is no longer a corporate governance issue. It’s all about what the government wants to do with this guy’…A JPMorgan spokesman declined to comment.”

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