North Dakota Republican Sen. Kevin Cramer reacts to JPMorgan Chase CEO Jamie Dimon calling out “Kudlow” about President Joe Biden’s energy policies.
What does it take to be the CEO of America’s biggest bank? According to the person who is currently employed, he “should give a s–t.”
JPMorgan Chase Chairman and CEO Jamie Dimon was asked during the bank’s 2023 Investor Day on Monday what he sees as the most important characteristics in whoever the board chooses as its eventual successor, and he backs did not remain
Jamie Dimon, the billionaire and CEO of JPMorgan Chase, listed the qualities he believes his eventual successor would need to have. (Cyril Marsilesi/Bloomberg via Getty Images/File/Getty Images)
Dimon began his answer by saying that he believes it is a mistake for a company to focus on a singular strength when selecting the next generation of leadership, and he provided a list of qualities that most individuals should have. He believes his replacement will be needed.
“I think the most important traits are that you’re trusted and respected by people, that you work your ass off, that you give a s—t, that you know you’re not everything. You know,” Damon said. “They have curiosity, they have patience, they have courage.”
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“You’re willing to change direction, you’re willing to go in front of your shareholders and say, ‘We screwed up, we made a mistake, we were wrong about that,’” he continued. “Those are the things that I think are most important… not one particular thing.”
JPMorgan Chase Headquarters in New York City. (Tim Clayton / Corbis via Getty Images / Getty Images)
| anchor | Security | Last | Change | Change % |
|---|---|---|---|---|
| jpm | JPMorgan Chase & Co. | 138.03 | -1.15 | -0.83% |
The billionaire and longtime Wall Street titan said his replacement will certainly need a fair amount of knowledge to do the job and some skills that can be learned, “but if you don’t have the grit, you don’t have it. [If] You don’t have the courage, you don’t have.”
Dimon further stated that the kind of person who defends his every decision would not be a good choice to replace him.
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“My management team knows, I don’t think I’ve ever defended a decision,” he said. “Going forward, just do the right thing, that’s it. Go ahead and do the right thing. I don’t really care what we did yesterday, and so I’m far from that mindset. Hurry… because that’s how you live.” I can move on.”
JPMorgan Chase Chairman and CEO Jamie Dimon said it is a mistake for a company to focus on any one strength when selecting the next generation of leadership. (Marco Bello/Bloomberg via Getty Images/Getty Images)
Dimon expressed confidence that after providing a litany of the traits needed for his eventual replacement, JPMorgan already has several leaders who can replace him.
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“I think the board is very comfortable that we’ve got really top options here,” he said.
When asked about his potential retirement plans during the conversation, Dimon indicated that he does not intend to quit any time soon, adding that he still works with the same intensity that he has. .
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