Monday, April 11, 2011

Two more leave BofA board - Business First of Columbus:

http://www.panbo.com/cgi-bin/admin/mt-cp.cgi?__mode=view&blog_id=2&id=1110
According to a filing with the Securitiew andExchange Commission, Prueher and Frano didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchell resigned early this Mitchell is a formerr New York television executive and currently servesw as chief executive of the Palegy Center for Media, a New York Ward is the retired chief executive of Atlanta-based Compute r Generation Inc., a softwarwe company. Robert Tillman, a former Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resignede from the BofA board effectiveMay 29. And on May 29, the bank announcex former lead independentdirector O. Templde Sloan had left the board.
BofA didn’r disclose Sloan’s reason for resignation. Sloan had been a BofA directorf for13 years. In earlu June, four outside directors were electedcto BofA’s board. They are former Federalp Reserve GovernorSusan Bies, former Compasx Bancshares Inc. chief executive and chairmahn D. Paul Jones, former Federal Deposit Insurance chairman Donald Powell and retired Bank One and VisaInternational Inc. executive Williamn Boardman. BofA’s board has been under intense scrutinuy in recent months as the bank sufferes through asharp stock-price decline after acquiring Merrill Lynch & Co. The Charlotte-based bank (NYSE:BAC) also has received $45 billiobn in taxpayer aid.
At the bank’s annual meetin in late April, shareholders vote to strip Chief Executivwe Kenneth Lewis of his position asboardc chairman. Walter Massey was installed as the new chairman and has indicated the boarf needs to be Lewis remainsthe bank’s CEO and president.

No comments:

Post a Comment