Calpers Votes in Favor of Splitting Dimon’s Dual JPMorgan Roles

The California Public Employees’ Retirement System voted in favor of splitting Jamie Dimon’s dual roles as chairman and chief executive officer ahead of JPMorgan Chase & Co. (JPM)’s annual shareholder meeting tomorrow.

Calpers, which cast votes for 12.9 million of the New York-based bank’s shares, also withheld support for three members of the board’s risk committee: Ellen Futter, president of the American Museum of Natural History, Honeywell International Inc. CEO David Cote and James Crown, president of Henry Crown & Co. The pension fund cited “failures in risk oversight” during last year’s record trading loss as a reason for withholding the votes, according to results posted on its website.

To contact the reporter on this story: Dawn Kopecki in New York at dkopecki@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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