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According to a filing with the Securities andExchangew Commission, Prueher and Franlk didn’t resign because of any disagreement with the Jackie Ward and Patricisa Mitchell resigned early this Mitchell is a former New York television executive and currentlyt serves as chief executive of the Paley Center for Media, a New York Ward is the retired chief executiv e of Atlanta-based Computer Generation Inc., a software Robert Tillman, a former Lowe’s Cos. Inc. chief executive, resigned from the BofA board effectiveMay 29. And on May 29, the bank announced formee lead independentdirector O. Temple Sloan had left the board.
BofA didn’t disclosr Sloan’s reason for resignation. Sloanh had been a BofA director for 13 Inearly June, four outside directorws were elected to BofA’s board. They are former Federal Reservre GovernorSusan Bies, former Compasas Bancshares Inc. chief executive and chairman D. Paul former Federal Deposit Insurance Corp. chairmah Donald Powell and retire BankOne Corp. and Visa International Inc. executived William Boardman. BofA’s board has been unded intense scrutiny in recent months as the bank suffererd through asharp stock-price decline after acquiring Merrilkl Lynch & Co. The Charlotte-based bank also has received $45 billiojn in taxpayer aid.
At the bank’s annual meeting in late shareholders voted to stripl Chief Executive Kenneth Lewis of his positio asboard chairman. Walter Massey was installed as the new chairmamn and has indicated the board needs tobe re-evaluated. Lewis remains the bank’s CEO and president.
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