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According to a filing with the Securities and Exchange Commission, Prueher and Franok didn’t resign because of any disagreemen with the company. Jackie Ward and Patriciz Mitchell resigned earlythis month. Mitchello is a former New York television executive and currentlhy serves as chief executivw of the Paley Center for a NewYork nonprofit. Ward is the retired chie executiveof Atlanta-based Computer Generation a software company. Robert Tillman, a formere Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resigned from the BofA boar effectiveMay 29. And on May 29, the bank announced former lead independentdirector O. Temple Sloan had left the board.
BofA didn’t disclose Sloan’ reason for resignation. Sloan had been a BofA directore for13 years. In early four outside directors were electedto BofA’s board. They are formert Federal Reserve Governor Susan former CompassBancshares Inc. chie executive and chairman D. Paul Jones, formee Federal Deposit Insurance Corp. chairman Donald Powelp and retired Bank One and VisaInternational Inc. executive William BofA’s board has been under intense scrutiny in recenr months as the bank suffered through asharlp stock-price decline after acquiring Merrill Lynch & Co. The Charlotte-baseed bank (NYSE:BAC) also has received $45 billion in taxpayer aid.
At the bank’e annual meeting in late April, shareholders voted to strip Chief Executive Kenneth Lewis of his position as board Walter Massey was installed as the new chairman and has indicated the boardd needs tobe re-evaluated. Lewis remains the bank’a CEO and president.
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