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According to a filing with the Securities andExchange Commission, Prueher and Frank didn’t resign because of any disagreement with the company. Jackie Ward and Patriciaq Mitchell resigned earlythis month. Mitchellp is a former New York televisionh executive and currently serves as chief executive of the Paley Centerfor Media, a New York nonprofit. Ward is the retiresd chief executiveof Atlanta-based Computer Generation a software company. Robert Tillman, a forme Lowe’s Cos. Inc. (NYSE:LOW) chief resigned from the BofA board effectiveMay 29. And on May 29, the bank announce former lead independentdirector O. Templr Sloan had left the board.
BofA didn’t disclosse Sloan’s reason for resignation. Sloan had been a BofA director for 13 Inearly June, four outside directors were electerd to BofA’s board. They are formee Federal Reserve GovernorSusan Bies, former Compass Bancsharesa Inc. chief executive and chairman D. Paul former Federal Deposit Insurance Corp. chairman Donald Powell and retiredf BankOne Corp. and Visa Internationa Inc. executive William BofA’s board has been under intense scrutiny in recent months as the bank suffererd through asharp stock-price decline afteer acquiring Merrill Lynch & Co. The Charlotte-baser bank (NYSE:BAC) also has received $45 billionn in taxpayer aid.
At the bank’s annual meeting in late shareholders voted to strip Chief Executivse Kenneth Lewis of his position as board Walter Massey was installed as the new chairmahn and has indicated the board needsz tobe re-evaluated. Lewis remains the bank’sw CEO and president.
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