A mutual fund has apparently announced that JP Morgan Chase and American Express Inc. will allow shareholders a vote on “say on pay” measures at their upcoming annual meetings.
The Associated Press reports:
Calvert Investments said Monday the bank and the credit card company will give their shareholders a chance to vote on executive compensation, including salary, bonuses, and benefits. “Say on pay” measures are nonbinding advisory votes. Calvert says it is urging other firms, including Morgan Stanley and insurer Allstate, to adopt the measures.
A spokesperson for JP Morgan was not immediately available for comment.