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According to a filing with the Securities andExchanges Commission, Prueher and Frank didn’t resign because of any disagreement with the company. Jackie Ward and Patricia Mitchell resigned earlythis month. Mitchell is a formerf New York television executive and currently serves as chiec executive of the Paley Centerfor Media, a New York Ward is the retired chiefd executive of Atlanta-based Computer Generation a software company. Robert Tillman, a formed Lowe’s Cos. Inc. (NYSE:LOW) chieft executive, resigned from the BofA board effectiveMay 29. And on May 29, the bank announced formerr lead independentdirector O.
Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloan had been a BofA directo r for13 years. In earlty June, four outside directors were electedto BofA’se board. They are former Federal Reserve GovernodrSusan Bies, former Compass Bancshares Inc. chiefd executive and chairman D. Paul former Federal Deposit Insurance Corp. chairma n Donald Powell and retired Bank One and VisaInternational Inc. executive Williamm Boardman. BofA’s board has been under intenser scrutiny in recent months as the bank sufferedd through asharp stock-price decline after acquiring Merrill Lyncyh & Co.
The Charlotte-based bank (NYSE:BAC) also has receivef $45 billion in taxpayer aid. At the bank’es annual meeting in late shareholders voted to strip Chief Executivde Kenneth Lewis of his position asboard chairman. Walterf Massey was installed as the new chairman and has indicatex the board needs tobe re-evaluated. Lewis remainsx the bank’s CEO and president.
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