Jamie Dimon, in his latest letter to JPMorgan Chase shareholders, wrote that poor chief executive succession has “destroyed many a company”.
He continued: “CEO and management succession often seems more like a psychological drama or a Shakespearean tragedy than the reasoned and mature process it should be. It is in our best interest to avoid that drama.”
On Tuesday, the bank's chief executive acted on his words, moving a handful of top executives around the provinces of JPMorgan's financial empire in an effort to broaden their experience and prepare them for the race for the top job.
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