Former Exxon CEO Lee Raymond Quits JPMorgan Board
Lee Raymond, former ExxonMobil CEO, will resign from the JPMorgan board of directors at the end of the year.
Raymond was elected earlier this year to continue serving as the board's independent director through May 2021, a role he has held for the past seven years on a board on which he sat for one-third of a century. His early departure comes as JPMorgan faces increasing pressure from climate groups, shareholders, and the BankFwd campaign over the bank's financing of fossil fuel projects.
Raymond was the target of a major vote-out campaign by environmental groups earlier this year. At ExxonMobil, Raymond aggressively rejected the scientific reality of climate change and Exxon funneled millions of dollars to groups undermining climate science and denying climate change. JPMorgan remains the world's largest financier of fossil fuels.
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