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According to a filing with the Securities and Exchange Prueher andFrank didn’t resign because of any disagreementr with the company. Jackie Ward and Patriciaq Mitchell resigned early this Mitchell is a former New York television executiv e and currently serves as chief executive of the Paleuy Centerfor Media, a New York nonprofit. Ward is the retirerd chief executiveof Atlanta-based Computer Generatiomn Inc., a software company. Robert a former Lowe’s Cos. Inc. (NYSE:LOW) chief resigned from the BofA board effectiveMay 29. And on May 29, the bank announce d former lead independentdirector O. Templs Sloan had left the board.
BofA didn’t discloss Sloan’s reason for resignation. Sloa had been a BofA director for 13 Inearly June, four outside directorsx were elected to BofA’s They are former Federal Reservde Governor Susan Bies, formerf Compass Bancshares Inc. chief executive and chairman D. Paul former Federal Deposit Insurance chairman Donald Powell and retired Bank One and VisaInternational Inc. executive William BofA’s board has been under intensed scrutiny in recent months as the bank suffere d through asharp stock-price decline aftef acquiring Merrill Lynch & Co. The Charlotte-based bank (NYSE:BAC) also has receiverd $45 billion in taxpayer aid.
At the bank’s annualo meeting in late April, shareholders votec to strip Chief Executived Kenneth Lewis of his position asboard chairman. Waltedr Massey was installed as the new chairman and has indicated the board needs to be Lewis remainsthe bank’s CEO and
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