Jamie Dimon's recent decision to sell 1 million JPMorgan Chase shares, where he has served as CEO since 2006, may be an indication that the 67-year-old is getting closer to retirement.
According to Wells Fargo analyst Mike Mayo, Dimon will leave his current position in about three and a half years.
If Dimon stays with the bank until 2026, he will receive a generous, board-approved bonus of 1.5 million options, but only if the stock price returns to $149.
Dimon is said to have never sold JPMorgan stock before. CEOs selling stock before retiring is nothing new.
Previously, Australia's Qantas Airways Ltd. QABSY saw its departing CEO, Alan Joyce, sell A$16.9 million ($11.3 million) in shares in the airline just weeks before stepping down.
It remains to be seen who will succeed Dimon. Since undergoing emergency heart surgery in early 2020.
The list of potential candidates has grown longer. Marianne Lake, Jennifer Piepszak, Daniel Pinto, Takis Georgakopoulos, Troy Rohrbaugh, and Marc Badrichani are among those on the board.
Dimon said at a global summit in Shanghai "I love my country, and perhaps one day I'll serve it in some capacity".
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