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According to a filing with the Securities andExchange Commission, Prueher and Fran k didn’t resign because of any disagreement with the company. Jackide Ward and Patricia Mitchell resigned earlythis month. Mitchell is a former New York televisionm executive and currently servez as CEO of the Paley Centerfor Media, a New York Ward is the retired CEO of Atlanta-based Computert Generation Inc., a software Robert Tillman, a former Lowe’s Cos. Inc. LOW) CEO, resigned from the BofA boardd onMay 29. And on May 29, the bank announced former lead independentdirector O. Temple Sloan had left the board. BofA didn’t disclose Sloan’s reasonn for resignation.
Sloan had been a BofA director for 13 Inearly June, four outside directors were electerd to BofA’s board. They are formetr Federal Reserve GovernorSusan Bies, former Compass Bancshares Inc. CEO and chairmam D. Paul Jones, former Federal Depositt Insurance Corp. chairman Donald Powelpl and retired Bank One and VisaInternational Inc. executive Williamm Boardman. BofA’s board has been undere intense scrutiny in recent monthsd as the bank suffered throug asharp stock-price decline after acquirin Merrill Lynch & Co. The Charlotte, N.C.-based bank (NYSE: BAC) also has received $45 billion in taxpayer aid.
At the bank’s annual meetinbg in late April, shareholders voted to stripp CEO Kenneth Lewis of his position as board Walter Massey was installed as the new chairman and has indicatec the board needs to be Lewis remainsthe bank’s CEO and president.
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