On Tuesday, Jamie Dimon delivered a compelling message to corporate leaders: ditch the performative meetings and adopt radical transparency when it comes to business issues.
At a Morgan Stanley financial conference, the JPMorgan CEO urged his audience to stop staging meetings “run for the boss,” which often drift into politics and inefficiency. Instead, Dimon encouraged managers to openly “put your dead cats on the table”—a metaphor for confronting unpleasant realities—rather than masking operational problems, as reported by Business Insider.
During his speech, Dimon recalled a lunch encounter where someone claimed, “no dead cats, just wounded ones.” Dimon shot back: “Go put the wounded ones on the table,” reinforcing the value of candid disclosure.
He attributed dysfunctional meetings to internal rivalry, where departments compete “for the credit of revenues and expenses and one set of books.” This competition, he warned, leads to distorted decisions and reluctance to acknowledge domains where the company lags or losses exist.
Dimon offered a concrete example from JPMorgan’s small business credit card division. Operating at one-third the scale of American Express, the unit must continuously ask, “What are they doing better?” rather than shrugging off uncomfortable comparisons to industry leaders.
Why It Matters: As CEO of the nation’s largest bank, managing $4.4 trillion in assets, Dimon’s views carry significant weight. His insistence on transparency and executive accountability reflects a broader push for better corporate governance. Moreover, his approach aligns with recent stances—like reaffirming a five-day in-office policy—underscoring JPMorgan’s commitment to efficiency and results-driven culture amid ongoing restructuring.
For investors and industry watchers, Dimon’s remarks signal that JPMorgan will continue to prioritize operational rigor and performance, steering clear of corporate politicking as it strengthens its corporate culture.
