JPM being hurt today, on speculation Dimon is going to call it quits.
That $80M payday he had a few years ago, that caused such an uproar among shareholders, was due to a $50M “retention bonus”. Maybe he is thinking, given the outrage at his last big display of greed, he probably won’t get another one like that.
The sooner he leaves, the sooner they can hurry up and find more failures.
The next guy may not have Dimon’s teflon when it comes to ducking accountability for running JPM as a criminal enterprise. Even worse, he may not be as comfortable running a criminal enterprise as Dimon, and decide to be ethical, which would be devastating for profits.
The thought crosses my mind, when a CEO becomes “legendary” he might want to secure his reputation by seeing to it his successor is set up to fail.
Steve
Shoot, Elon Musk asked for and almost got three orders of magnitude more than that.
Dimon got it, and kept it, in spite of shareholder outrage.
“almost” does not count.
Steve