Two JPMorgan Directors Step Down From Board

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Two directors on the board of JPMorgan Chase & Co (JPM.N) who received relatively low votes for re-election at the company's annual meeting in May have retired.

Two JPMorgan Directors Step Down From Board

Two directors on the board of JPMorgan Chase & Co (JPM.N) who received relatively low votes for re-election at the company's annual meeting in May have retired.

David Cote is stepping down after more than five years on the board and Ellen Futter is leaving after 16 years, the company said in a statement on Friday.

Cote, who is chairman and CEO of Honeywell International Inc (HON.N), and Futter, who heads the American Museum of Natural History in New York, were on the board's risk committee when the company made the so-called "London Whale" derivatives trades that ultimately cost JPMorgan more than $6.2 billion and badly damaged its reputation.

Some institutional investors campaigned against their re-election. Futter was re-elected to the board with only 53.1 percent of the vote at the company's annual meeting in May, which she did not attend. Cote received 59.3 percent of the vote.

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