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JPMorgan shareholders reject proposal for independent chairman

JPMorgan Chase & Co. shareholders, at their annual meeting held May 15, rejected four proposals, including the proposal to have an independent chairman.

The proposal to split the chairman and CEO roles, introduced by John Chevedden, garnered 65.78% negative votes.

Shareholders also voted against the proposal, introduced by the AFL-CIO Reserve Fund, to prohibit the vesting of equity-based awards for senior executives who resign to join government service.

A proposal requiring JPMorgan to report on investments tied to genocide as well as a proposal on cumulative voting were also turned down by shareholders, according to a Form 8-K.