Jamie Dimon hits out at 'lazy' shareholders

JPMorgan CEO Jamie Dimon chided shareholders as 'lazy' for casting votes at annual meetings based on the advice of proxy advisers.

'God knows how any of you can place your vote based on ISS or Glass Lewis', Dimon, 59, said Wednesday at an investor conference in New York. 'If you do that, you are just irresponsible, I’m sorry. And you probably aren’t a very good investor, either'.

Bloomberg News reports that JPMorgan’s board is reviewing how it pays top executives including Dimon after a record low percentage of shareholders voted this month to approve their latest packages.

Proxy advisers Institutional Shareholder Services and Glass Lewis & Co. had recommended investors reject the pay resolution, saying the bank lacks preset goals to determine compensation and didn’t give a good reason for giving Dimon his first cash bonus in three years.

To access the complete Bloomberg News article hit the link below:

Dimon Chides ‘Lazy’ Shareholders Who Follow Proxy Advisers

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