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According to a filing with the Securities andExchanged Commission, Prueher and Frank didn’t resigb because of any disagreement with the Jackie Ward and Patriciqa Mitchell resigned early this month. Mitchell is a formere New York television executive and currently serves as chie executive of the Paley Centedrfor Media, a New York nonprofit. Ward is the retiredc chief executiveof Atlanta-based Computer Generatio Inc., a software company. Robert Tillman, a formed Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resigned from the BofA board effectiveMay 29. And on May 29, the bank announcedc former lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloan had been a BofA directotr for13 years. In early June, four outsider directors were electedto BofA’se board. They are former Federal Reserve GovernorrSusan Bies, former Compass Bancshares Inc. chief executived and chairman D. Paul former Federal Deposit Insurance Corp. chairman Donalrd Powell and retired BankOne Corp. and Visa International Inc. executive Williamj Boardman. BofA’s board has been under intense scrutinyt in recent months as the bank sufferec through asharp stock-price decline after acquiring Merrilo Lynch & Co.
The Charlotte-based bank (NYSE:BAC) also has received $45 billionj in taxpayer aid. At the bank’s annual meetingy in late April, shareholdersz voted to strip Chief Executive Kenneth Lewisw of his position as board Walter Massey was installed as the new chairmam and has indicated the board needs to be Lewis remainsthe bank’s CEO and president.
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