Jamie Dimon Has Run JPMorgan Chase for 2 Decades. What Happens to the Stock When He Steps Down?
Jamie Dimon's track record at JPMorgan Chase is a good one, but he's still just one of many leaders.
Overview
Jamie Dimon is the long-serving CEO of JPMorgan Chase (NYSE: JPM), having taken on the role roughly 20 years ago in 2006. However, given his age (70), he is thinking about retirement. And while Dimon stepping down isn't imminent, it is likely to happen sooner rather than later. This is something investors should care about, but it shouldn't leave you deeply worried about the future. Here's what happens when he steps down.
Chief executive officer succession planning is one of the things that most boards of directors consider very deeply. Unless there is an unusual situation, such as a sudden illness, planning for a CEO's retirement generally starts well before the actual retirement. Which is why it is important to note that JPMorgan Chase recently promoted Doug Petno and Troy Rohrbaugh to the roles of co-presidents.
Image source: JPMorgan Chase & Co.
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Originally published at www.fool.com.