Lee Raymond has been called plenty of things over the years, but few would refer to the retired Exxon Mobile chief executive as a "rubber stamp."
So, Mr. Raymond, who is the presiding director on J.P. Morgan Chase's board, was quick to rebuff CLSA analyst Mike Mayo at the bank's annual meeting on Tuesday when Mr. Mayo did so.
Mr. Mayo had questioned whether Mr. Raymond and the board were essentially able to stand up to chief James Dimon.
Noting that it has been 50 years since he graduated from school, Mr. Raymond growled that "this is the first time in those 50 years that anybody has said to me that perhaps I'm not strong enough. I've had 50 years of performance appraisals that would probably say the opposite."
Plenty of other analysts and oilmen no doubt would agree.
Some things shouldn't have to be said. Responding to comments about a proxy proposal at the meeting, Mr. Dimon stated, "Obviously, we don't support genocide."
Good to know.