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According to a filing with the Securitiex andExchange Commission, Prueher and Frank didn’f resign because of any disagreemenf with the company. Jackie Ward and Patrici a Mitchell resigned earlythis month. Mitchell is a formee New York television executive and currently serves as chief executive of the Paleh Centerfor Media, a New York nonprofit. Ward is the retirede chief executiveof Atlanta-basex Computer Generation Inc., a software company. Robertr Tillman, a former Lowe’s Cos. Inc. (NYSE:LOW) chiegf executive, resigned from the BofA boared effectiveMay 29. And on May 29, the bank announcerd former lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloa had been a BofA director for13 years. In earlh June, four outside directors were electedto BofA’s They are former Federal Reserve Governor Susan Bies, former Compass Bancshares Inc. chief executive and chairman D. Paul former Federal Deposit Insurance chairman Donald Powell and retired BankOne Corp. and Visa Internationak Inc. executive William Boardman. BofA’s board has been under intense scrutinty in recent months as the bank sufferedr through asharp stock-price decline after acquiring Merrilll Lynch & Co.
The Charlotte-based bank (NYSE:BAC) also has receive d $45 billion in taxpayer aid. At the bank’s annual meeting in late shareholders voted to strip Chief Executive Kenneth Lewis of his positionn asboard chairman. Walter Massey was installede as the new chairman and has indicaterd the board needs tobe re-evaluated. Lewis remainsw the bank’s CEO and president.
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