JPMorgan Chase directors Futter, Cote to retire

240px-J_P_Morgan_Chase_Logo_2008_1.svgJPMorgan Chase announced last week the retirement of David Cote and Ellen Futter—two of its directors—and that it will appoint new directors to its board later in the year.

“I want to thank Ellen and Dave for their dedicated service to our firm,” JPMorgan CEO Jamie Dimon said. “We have learned a great deal from both of them and will miss having them as members of our Board.”

Futter, who has served on several board committees and helped navigate JPMorgan through a number of mergers and the financial crisis, will retire after 16 years with the company.

“I am proud to have served as a member of JPMorgan Chase’s Board during such a historic time in the life of the company,” Futter said. “[H]aving been a director since the 1990s, I believe that this is the right time to make this transition. It’s a great company with outstanding leadership in Jamie Dimon, senior management and at the Board level.”

Cote, the former chairman and CEO of Honeywell, will retire after more than five years of service to the company.

“I am grateful for the opportunity to have served on the JPMorgan Chase Board,” Cote said. “Given the increasing demands on the Directors of companies in the financial services sector, I decided that now was the time to reallocate my limited personal time to other outside activities. My time on the JPMorgan Chase Board has been a terrific experience.”

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