We have all heard that Jamie Dimon has throat cancer. He insists it is treatable as it was caught in very early stages. We wish Jamie Dimon well. He has curtailed travel plans and will stay in NYC for treatments which include chemo-therapy. He will continue to be in charge.
Consider these points. The psychological toll of fighting against cancer is very high. Distracting to say the least. The physical toll can also be great. Chemo-therapy can be difficult and Jamie Dimon may not be in a state of battle readiness.
Yes bench strength is reputed to be strong. It may have been better for Jamie Dimon to take a leave of absence, do what needs to be done and return healthy. Time will tell. But the board bears the responsibility for what may be a poorly managed succession plan.
How many other financial leaders can battle chemo-therapy and run a huge bank?
George Gutowski writes from a caveat emptor perspective.