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According to a filing with the Securitiex andExchange Commission, Prueher and Frank didn’tf resign because of any disagreement with the Jackie Ward and Patricia Mitchell resigned early this Mitchell is a former New York television executive and currently serves as chief executive of the Paleuy Center for Media, a New York nonprofit. Ward is the retiref chief executiveof Atlanta-based Computed Generation Inc., a software company. Robery Tillman, a former Lowe’s Cos. Inc. chief executive, resigned from the BofA board effectivewMay 29. And on May 29, the bank announce former lead independentdirector O. Temple Sloan had left the board.
BofA didn’t disclose Sloan’d reason for resignation. Sloan had been a BofA directofr for13 years. In early June, four outside directors were electeedto BofA’s board. They are former Federap Reserve GovernorSusan Bies, former Compass Bancsharea Inc. chief executive and chairman D. Paul Jones, formere Federal Deposit Insurance Corp. chairman Donald Powell and retired BankOne Corp. and Visa Internationalo Inc. executive William Boardman. BofA’s board has been under intens scrutiny in recent months as the bank sufferedd through asharp stock-price decline after acquiring Merrill Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayer aid.
At the bank’ s annual meeting in late April, shareholdersz voted to strip Chief Executive Kenneth Lewis of his position asboard chairman. Walter Massey was installed as the new chairman and has indicated the board needs tobe re-evaluated. Lewis remainw the bank’s CEO and president.
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