JPMorgan Chase & Co said on Monday its board will consider a bylaw amendment to make it easier for small groups of investors to run candidates for the New York bank’s board of directors.
That move came just hours before fast-food leader McDonald’s Corp announced that its board amended company bylaws to provide shareholders with new rights of proxy access for director nominations.
In a securities filing, JPMorgan said its board told management to prepare an amendment to grant groups of up to 20 shareholders the right to nominate their own candidates, a change known as “proxy access” that has become a popular reform at many companies this year.
