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Rep Nadler, Manhattan politicians to endorse Stringer for mayor
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APG and New York City Pension Investors Not Satisfied on Amazon Worker Safety Responses During COVID-19 Pandemic
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Bloomberg
Lee Raymond, a JPMorgan Chase board member for more than 30 years and its lead independent director for many of them, is resigning from the board, effective at the end of the month.
Raymond was the most powerful person on the bank’s board except for Chairman and Chief Executive Jamie Dimon. But the 82-year-old former CEO of Exxon Mobil became a target of New York City Comptroller Scott Stringer and other activist shareholders who wanted the bank to distance itself from the fossil fuels industry. In September the bank named NBCUniversal Chairman Stephen Burke its new lead director after indicating in May that Raymond would be replaced.
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When asked about the letter, McDonald’s said its board “maintains an active and engaged dialog” with shareholders and other stakeholders.
“The board believes that there should be a balance of institutional knowledge and fresh perspectives among its directors and remains committed to ongoing board refreshment. With the help of outside counsel, the board is fully investigating all allegations of misconduct by Mr. Easterbrook, including his lies and deceptions, and has taken swift and unprecedented actions to address them,” the company said in an emailed statement.
The investor push for accelerated board turnover follows a year of internal turmoil at the restaurant giant even as operations have recovered quickly from the pandemic given the chain’s strong drive-thru and take-out model. Shares are up about 56% from a March low as the virus hit the U.S.
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