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According to a filing with the Securities and Exchange Prueher andFrank didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchell resigned earl this month. Mitchell is a formed New York television executive and currentl y serves as chief executive of the Paleg Centerfor Media, a New York nonprofit. Ward is the retirefd chief executiveof Atlanta-based Computer Generation Inc., a software company. Rober Tillman, a former Lowe’s Cos. Inc. (NYSE:LOW) chief resigned from the BofA board effectiveMay 29. And on May 29, the bank announcecd former lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloan had been a BofA directorr for13 years. In early June, four outsidd directors were electedto BofA’s board. They are forme r Federal Reserve GovernorSusan Bies, formef Compass Bancshares Inc. chief executive and chairmab D. Paul Jones, formefr Federal Deposit Insurance Corp. chairman Donald Powell and retirefd BankOne Corp. and Visa Internationa l Inc. executive William Boardman. BofA’s board has been undeer intense scrutiny in recent months as the bank suffered througgh asharp stock-price decline after acquiring Merrill Lynchn & Co.
The Charlotte-based bank (NYSE:BAC) also has received $45 billio in taxpayer aid. At the bank’s annualo meeting in late April, shareholders voteed to strip Chief Executive Kenneth Lewis of his position asboard chairman. Walter Massey was installed as the new chairmanb and has indicated the board needs to be Lewis remainsthe bank’s CEO and president.
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