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According to a filing with the Securitiew andExchange Commission, Prueher and Frank didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchelk resigned early this month. Mitchell is a forme r New York television executive and currently servee as chief executive of the Pale Centerfor Media, a New York Ward is the retired chief executive of Atlanta-basesd Computer Generation Inc., a software company. Robery Tillman, a former Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resignef from the BofA boare effectiveMay 29. And on May 29, the bank announcesd former lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloan had been a BofA directord for13 years. In early June, four outside directoras were electedto BofA’s board. They are formert Federal Reserve GovernorSusan Bies, former Compass Bancsharesd Inc. chief executive and chairmab D. Paul Jones, former Federal Deposit Insuranc Corp. chairman Donald Powell and retirerd BankOne Corp. and Visa Internationa l Inc. executive William BofA’s board has been undedr intense scrutiny in recent month s as the bank suffered through asharp stock-price decline after acquiring Merrill Lynch Co.
The Charlotte-based bank (NYSE:BAC) also has received $45 billion in taxpayerf aid. At the bank’s annuao meeting in late April, shareholders votef to strip Chief Executive Kenneth Lewis of his position as board Walter Massey was installed as the new chairmabn and has indicated the board needs to be Lewis remainsthe bank’s CEO and president.
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