JPMorgan Chase & Co., the largest U.S. bank, nominated former KPMG International Chairman Timothy P. Flynn to its board as two directors step down after more than a decade at the company.
Flynn, 55, was the accounting firm’s chairman from 2007 through October and served as the U.S. division’s chief executive officer from 2005 through 2008.
William Gray, chairman of consulting firm Gray Global Strategies Inc., and David Novak, president and CEO of Yum! Brands Inc., aren’t seeking re-election, New York-based JPMorgan said today in a statement. Gray is a holdover from his 1992 appointment to the board of Chase Manhattan Corp. Novak was carried over from the Bank One Corp. board he joined in 2001.
JPMorgan has advanced 39 percent this year through yesterday. The stock gained 11 cents to $46.28 as of 11:44 a.m. in New York.