This is some serious smack talk
Jamie Dimon has had enough of the “lazy” shareholders who are critical of JPMorgan Chase’s leadership—at least that’s what he let slip at an investor meeting this week.
Shareholder advisory firms, which Dimon was specifically attacking, recommended voting against his pay package when it went up for a vote at this month’s annual shareholder meeting. The two major proxy firms—ISS and Glass Lewis—believed the CEO’s compensation plan was not fully aligned with his performance.
Dimon had some choice words for them when he spoke Wednesday at a New York conference hosted by Bernstein, Reuters reports.
“If you do that, you are just irresponsible, I’m sorry,” Dimon said. “And you probably aren’t a good investor either.”
About one-third of JPMorgan JPM shareholder’s took the proxy firms’ advice and voted against Dimon’s dual role as CEO and Chairman of the Board, as well as his pay package.