{"id":304797,"date":"2021-07-21T21:25:35","date_gmt":"2021-07-21T18:25:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jpmorgan-gives-jamie-dimon-50m-to-remain-ceo-for-five-years\/"},"modified":"2021-07-21T21:25:35","modified_gmt":"2021-07-21T18:25:35","slug":"jpmorgan-gives-jamie-dimon-50m-to-remain-ceo-for-five-years","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jpmorgan-gives-jamie-dimon-50m-to-remain-ceo-for-five-years\/","title":{"rendered":"#JPMorgan gives Jamie Dimon $50M to remain CEO for five years"},"content":{"rendered":"

“#JPMorgan gives Jamie Dimon $50M to remain CEO for five years<\/strong>”<\/p>\n

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Jamie Dimon has been at the helm of JPMorgan Chase since before the financial crisis \u2014 and the board doesn\u2019t want him going anywhere.<\/p>\n

As a \u201cspecial award\u201d on Wednesday, the JPMorgan Chase board granted the billionaire CEO a trove of new stock options worth an estimated $50 million.<\/p>\n

But to get the money, Dimon has to stick around as CEO at least five more years and won\u2019t be able to sell the shares until 10 years from now. Also, Dimon will only make money if he can hike the share price higher.<\/p>\n

For Dimon, who is worth an estimated $1.8 billion<\/a> according to Forbes, a $50 million reward might not be significant from a monetary standpoint. But people close to the bank emphasize its the thought that counts.<\/p>\n

\u201cIt\u2019s symbolic that the board wants Dimon to stay around,\u201d Wells Fargo analyst Mike Mayo told The Post. \u201cEveryone always asks Jamie what he wants to do and ultimately it\u2019s the view of the board\u2026 and the board has spoken with this move.\u201d<\/p>\n

Dimon, 65, has said he has no plans to go anywhere and that he will stay on for at least another five years. Still, a recent health scare brought a renewed focus to succession planning. In March 2020, Dimon had emergency heart surgery and was out of the office for several weeks.<\/p>\n

\u201cThis special award reflects the board\u2019s desire for Mr. Dimon to continue to lead the firm for a further significant number of years,\u201d the bank said in an SEC filing Wednesday<\/a>.<\/p>\n

Dimon\u2019s profit on the 1.5 million options will be the difference between where the stock is now and where it is five years from now. Bank analysts and insiders estimate the stock could jump to $185 after a five-year period, awarding Dimon $50 million.<\/p>\n

In May, Marianne Lake and Jennifer Piepszak were named co-heads\u00a0of the mega-bank\u2019s consumer lending and community banking businesses, effectively launching a contest between the two women in a race to succeed Dimon.<\/p>\n

But if the board has their way, it doesn\u2019t app<\/a>ear either woman will be getting the coveted role of CEO anytime soon.<\/p>\n

Its statement also highlighted \u201cstrong performance under Mr. Dimon\u2019s stewardship since 2005, his exemplary leadership, and his significant contributions to the firm\u2019s success during his tenure.\u201d<\/p>\n

Insiders add the board has been wanting to publicly show their appreciation for Dimon \u2014 but decided to wait until COVID fears abated and a sense of normalcy returned to Wall Street.<\/p>\n

\"Jamie
Jamie Dimon has been at the helm of JPMorgan since 2005.<\/figcaption>
Eric Tschaen\/Pool\/SIPA<\/span><\/figcaption><\/figure>\n

It\u2019s been a year of eye-popping earnings for the largest US bank. JPMorgan Chase more than doubled its quarterly profit and hauled in close a $12 billion profit in the second quarter, the bank reported last week. <\/p>\n

Under Dimon, the longest-serving CEO of a major Wall Street bank, the share price has soared 20 percent since the beginning of the year. Over the last five years, the price of shares has surged 136 percent to its current value around $150 a share.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#JPMorgan gives Jamie Dimon $50M to remain CEO for five years” Jamie Dimon has been at the helm of JPMorgan Chase since before the financial crisis \u2014 and the board doesn\u2019t want him going anywhere. As a \u201cspecial award\u201d on Wednesday, the JPMorgan Chase board granted the billionaire CEO a trove of new stock options…<\/p>\n","protected":false},"author":1,"featured_media":304798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/07\/jamie-dimon-award-1mil-01.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74888,112387,11154,71245,70791,70792,70360],"class_list":["post-304797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-banking","tag-7-21-21","tag-ceos","tag-executive-compensation","tag-jamie-dimon","tag-jpmorgan-chase","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/304797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=304797"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/304797\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/304798"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=304797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=304797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=304797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}