JPMorgan Chase News: JPM stocks fall on CEO’s health scare

<p>News from JPMorgan Chase (NYSE: JPM) on Friday regarding an emergency heart operation for CEO Jamie Dimon has JPM stocks falling sharply.

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A statement from co-presidents and co-COOs Daniel Pinto and Gordon Smith said Dimon “experienced an acute aortic dissection” Friday morning. In addition, the two stated that:

“[Dimon] underwent a successful heart operation to repair the dissection. The good news is that it was captured early and the operation was successful. He is awake, awake and recovering well.

According to Lead Director Lee Raymond, JPMorgan’s Chase Board of Directors is aware of the situation and its development. In addition, the board has asked Pinto and Smith to lead the company while Dimon recovers.

“We have exceptional leaders in our operations and functions – led by our outstanding CEO and co-chair,” says Raymond. “Our company will move forward with confidence as we continue to serve our customers, clients, communities and shareholders.”

The company hosted its investor day just last week and said it will continue to implement all the plans mentioned there despite Dimon’s absence.

The JPM share fell more than 6% as of Friday morning and has also fallen more than 23% since the turn of the year.

At the time of writing, Nick Clarkson had no position in any of the above securities.