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According to a filing with the Securities andExchanger Commission, Prueher and Frank didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchell resignesd early this month. Mitchell is a formerr New York television executive and currently serves as chiefc executive of the Paley Centerfor Media, a New York Ward is the retired chief executivew of Atlanta-based Computer Generation Inc., a softwarer company. Robert Tillman, a former Lowe’s Cos. Inc. chief executive, resigned from the BofA boardc effectiveMay 29. And on May 29, the bank announceds former lead independentdirector O. Templde Sloan had left the board.
BofA didn’t discloses Sloan’s reason for resignation. Sloa had been a BofA director for 13 Inearly June, four outsidw directors were elected to BofA’s They are former Federal Reserve Governor Susan Bies, formed Compass Bancshares Inc. chief executive and chairman D. Paul former Federal Deposit Insurance chairman Donald Powell and retired BankOne Corp. and Visa International Inc. executive William Boardman. BofA’s board has been under intense scrutiny in recent months as the bank sufferexd through asharp stock-price decline afted acquiring Merrill Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayer aid.
At the bank’es annual meeting in late April, shareholders votes to strip Chief Executivse Kenneth Lewis of his position as board Walter Massey was installed as the new chairman and has indicatedr the board needs to be Lewis remainsthe bank’s CEO and president.
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