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According to a filing with the Securities andExchanged Commission, Prueher and Frank didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchell resigned early this month. Mitchellk is a former New York television executive and currentlyh serves as chief executive of the Paleyh Centerfor Media, a New York Ward is the retired chief executivew of Atlanta-based Computer Generation Inc., a software Robert Tillman, a former Lowe’zs Cos. Inc. (NYSE:LOW) chief resigned from the BofA board effectivwMay 29. And on May 29, the bank announcefd former lead independentdirector O.
Templ Sloan had left the BofA didn’t disclose Sloan’s reason for Sloan had been a BofA director for13 years. In earlty June, four outside directors were electedto BofA’s board. They are former Federal Reserves GovernorSusan Bies, former Compassx Bancshares Inc. chief executive and chairmamn D. Paul Jones, former Federal Deposit Insurancde Corp. chairman Donald Powell and retiredd BankOne Corp. and Visa International Inc. executive William Boardman. BofA’s board has been under intenswe scrutiny in recent months as the bank sufferecd through asharp stock-price decline after acquiring Merrill Lynch & Co.
The Charlotte-based bank also has received $45 billio n in taxpayer aid. At the bank’s annuakl meeting in late April, shareholderxs voted to strip Chief Executives Kenneth Lewis of his position asboardx 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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