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article imageJP Morgan Chase CEO diagnosed with throat cancer

By Mike Rossi     Jul 6, 2014 in Business
New York City - Even all of the money and power that go hand in hand with running one of the most powerful financial institutions in the United States of America can't keep a man for being human.
JP Morgan Chase CEO, Jamie Dimon, can attest to that.
Less than a week ago, Mr. Dimon issued a memo to all JP Morgan Chase employees stating that he had been diagnosed with a treatable form of throat cancer.
Although he did not say which type of throat cancer he had developed, the general prognosis for the disease is positive if caught early. Smoking, excessive alcohol consumption and contraction of HPV are considered by medical professionals to be the main causes for the various forms of the cancer.
Per the memo, "Dimon will undergo eight weeks of chemotherapy and radiation at Memorial Sloan Kettering Hospital" mitigate his travel as much as possible and take other steps necessary to obtaining a clean bill of health.
He will not, however, be stepping down as the company's CEO, even for an abbreviated period.
Dimon's unwillingness to temporarily relinquish power over the company should not come as a surprise given the ferocious competitiveness of life in the upper echelons of the finance industry.
Having just celebrated his 10th anniversary at the helm, Dimon is the "longest-tenured CEO among the major U.S. banks" and one of the few survivors of the global financial crisis that lasted from 2007-2009.
Unlike colleagues Ken Lewis (Bank of America), Dick Fuld (Lehman Brothers) and John Thain (Merrill Lynch) who received the brunt of the backlash for their culpability in the crisis, Dimon weathered the storm with relative ease, escaping with his reputation and job intact.
In fact, Mr. Dimond not only survived the crisis, but thrived in its wake, firmly leading JP Morgan Chase into the 2010s.
For the first time since that massive economic downturn, Jamie Dimon faces a real threat to his vice-like grip on power.
Now, much like then, he shows no signs of giving up without a fight.
More about jamie dimon, Throat cancer, HPV, jp morgan chase
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