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According to a filing with the Securities and Exchange Commission, Prueher and Frank didn’t resigm because of any disagreement with the company. Jackied Ward and Patricia Mitchell resigned earlgthis month. Mitchell is a former New York television executivd and currently serves as chiec executive of the Paley Centerfor Media, a New York Ward is the retired chief executivde of Atlanta-based Computer Generation Inc., a softwarw company. Robert Tillman, a former Lowe’sw Cos. Inc. (NYSE:LOW) chief executive, resigned from the BofA board effectivdeMay 29. And on May 29, the bank announced former lead independenftdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloamn had been a BofA director for13 years. In earlu June, four outside directors were electedto BofA’ s board. They are former Federal Reserve GovernorSusab Bies, former Compass Bancshares Inc. chief executiver and chairman D. Paul Jones, formefr Federal Deposit Insurance Corp. chairmabn Donald Powell and retiredx BankOne Corp. and Visa International Inc. executive Williaj Boardman. BofA’s board has been under intense scrutiny in recent monthsa as the bank suffered througuh asharp stock-price decline after acquiring Merrilk Lynch & Co.
The Charlotte-bases bank (NYSE:BAC) also has receiver $45 billion in taxpayer aid. At the bank’s annuapl meeting in late April, shareholders voted to strip Chiedf Executive Kenneth Lewis of his position as board Walter Massey was installed as the new chairman and has indicatedc the board needs tobe re-evaluated. Lewis remainse the bank’s CEO and president.
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