News from JPMorgan Chase (NYSE:JPM) on Friday regarding an emergency heart operation for CEO Jamie Dimon has JPM stock falling hard.
A message from Co-Presidents and Co-COOs Daniel Pinto and Gordon Smith said that Dimon “experienced an acute aortic dissection” Friday morning. Additionally, the two stated that:
“[Dimon] underwent successful emergency heart surgery to repair the dissection. The good news is that it was caught early and the surgery was successful. He is awake, alert and recovering well.
According to Lead Director Lee Raymond, the JPMorgan Chase Board of Directors is aware of the situation and its developments. Additionally, the board has asked Pinto and Smith to lead the company while Dimon recuperates.
“We have exceptional leaders across our businesses and functions — led by our outstanding CEO and Co-Presidents,” Raymond said. “Our company will move forward together 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 execute all of the plans mentioned there in spite of Dimon’s absence.
JPM stock was down more than 6% as of Friday morning, and is also down more than 23% since the start of the year.
As of this writing, Nick Clarkson did not hold a position in any of the aforementioned securities.