Wall Street cracks down on activist shareholders, and Jamie Dimon is glad
Dimon has chastised stockholders as ‘lazy’ for blindly following recommendations from proxy advisers on how they should vote their shares
Washington — Wall Street’s main regulator is pursuing a crackdown on shareholder campaigns that corporate chieftains say are a nuisance. Few top executives would cheer the move louder than Jamie Dimon.
Dimon has been a frequent target of social activists who want companies to take an aggressive stand on issues such as climate change and human rights abuses. He has squared off with investors who’ve urged JPMorgan Chase to cut his pay and strip him of his chair title. And he has chastised stockholders as “lazy” for blindly following recommendations from proxy advisers on how they should vote their shares...