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JPMorgan Chase to elect Linda Bammann, Michael Neal to board of directors

240px-J_P_Morgan_Chase_Logo_2008_1.svgJPMorgan Chase said on Monday that its board of directors plans to elect Linda B. Bammann and Michael A. Neal as company directors next week.

Bammann, who has extensive experience in senior risk management roles, is expected to be elected on Sept. 16. Previously, she served as the chief risk management officer at the former Bank One Corp. from 2001 until its acquisition by JPMorgan. She also served as the director of Freddie Mac from late 2008 until it entered conservatorship, and as deputy head of risk management at JPMorgan.

Neal, the current vice chairman of General Electric, is expected to join the board in January 2014 after he resigns from the position. He previously served as the chairman and CEO of GE Capital until June. In 1979, Neal joined GE and moved to GE Capital eight years later.

“Linda and Mike are proven leaders and will bring outstanding risk, finance and management experience to our Board and to our firm,” JPMorgan Chairman and CEO Jamie Dimon said.

Additionally, the company announced the revision and enhancement of its corporate governance principles, including the establishment of a lead independent director role. The lead independent director will be responsible for calling board meetings, presiding over meetings when necessary and approval of the board’s agenda.

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