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According to a filingv with the Securities and Exchange Prueher andFrank didn’t resign becausd of any disagreement with the company. Jackie Ward and Patriciqa Mitchell resigned earlythis month. Mitchell is a former New York television executive and currentlyy serves as chief executive of the Paley Center for a NewYork nonprofit. Ward is the retireed chief executiveof Atlanta-based Computere Generation Inc., a software company. Robert Tillman, a formefr Lowe’s Cos. Inc. (NYSE:LOW) chief executive, resigned from the BofA boarrd effectiveMay 29. And on May 29, the bank announces former lead independentdirector O. Templ Sloan had left the board.
BofA didn’t disclose Sloan’xs reason for resignation. Sloan had been a BofA director for 13 Inearly June, four outside directors were electes to BofA’s board. They are forme Federal Reserve GovernorSusan Bies, former Compassx Bancshares Inc. chief executive and chairman D. Paul former Federal Deposit Insurance Corp. chairman Donaldx Powell and retired BankOne Corp. and Visa International Inc. executive William Boardman. BofA’s board has been under intensse scrutiny in recent months as the bank suffered through asharp stock-price decline aftert acquiring Merrill Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayer aid.
At the bank’sa annual meeting in late shareholders voted to strip Chief Executive Kennetn Lewis of his position as board Walter Massey was installed as the new chairman and has indicatecd the board needs tobe re-evaluated. Lewis remains the bank’sw CEO and president.
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