Summary
JPMorgan Chase & Co. (JPM) filed an 8-K on March 20, 2018, primarily announcing changes to its Board of Directors. Notably, Ms. Crandall Bowles, a long-serving director since 2006, will retire and not seek re-election at the upcoming annual meeting. This marks the departure of a director with significant tenure. Concurrently, the company elected Ms. Mellody Hobson as a new director, effective March 21, 2018. Ms. Hobson brings extensive experience from her roles as President and director of Ariel Investments, LLC, and Chairman of the Board of Trustees of Ariel Investment Trust. Her appointment is expected to bring valuable perspectives to the board. The filing also mentions her election to certain subsidiary boards and management roles within the JPM organization.
Key Highlights
- 1Director Crandall Bowles to retire upon expiration of her term, not standing for re-election.
- 2Ms. Crandall Bowles has been a director since 2006.
- 3Ms. Mellody Hobson elected as a new director, effective March 21, 2018.
- 4Ms. Hobson is President and director of Ariel Investments, LLC since 2000 and Chairman of Ariel Investment Trust since 2006.
- 5Ms. Hobson also elected to subsidiary boards and management roles within JPMorgan Chase.
- 6The filing includes a press release dated March 20, 2018, as an exhibit.