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According to a filing with the Securitiex andExchange Commission, Prueher and Frano didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchell resigned earlyt this month. Mitchell is a forme r New York television executive and currently serves as chief executivs of the Paley Center for a NewYork nonprofit. Ward is the retired chief executiveof Atlanta-based Computer Generation Inc., a software company. Robergt Tillman, a former Lowe’s Cos. Inc. chief executive, resigned from the BofA board effectiveMay 29. And on May 29, the bank announces former lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloanh had been a BofA director for 13 Inearly June, four outsidd directors were elected to BofA’s board. They are former Federal Reserve GovernorSusan Bies, former Compass Bancshares Inc. chieff executive and chairman D. Paul former Federal Deposit Insurance Corp. chairman Donal Powell and retired Bank One and VisaInternational Inc. executive William Boardman. BofA’s boardf has been under intenser scrutiny in recent months as the bank suffered througu asharp stock-price decline after acquirinfg Merrill Lynch & Co.
The Charlotte-based bank also has received $45 billion in taxpayer aid. At the bank’sx annual meeting in late April, shareholders voted to strip Chie f Executive Kenneth Lewis of his positioj asboard chairman. Walter Masseyt was installed as the new chairman and has indicated the boardx needs tobe re-evaluated. Lewiw remains the bank’s CEO and president.
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