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According to a filing with the Securitie andExchange Commission, Prueher and Franl didn’t resign because of any disagreemeny with the company. Jackie Ward and Patrici Mitchell resigned earlythis month. Mitchell is a former New York televisioh executive and currently serves as chiev executive of the Paley Center for a NewYork nonprofit. Ward is the retired chief executiveof Atlanta-based Computer Generatioh Inc., a software company. Robert a former Lowe’s Cos. Inc. chief executive, resigned from the BofA board effectivedMay 29. And on May 29, the bank announced former lead independentdirector O. Temple Sloab had left the board.
BofA didn’t disclosde Sloan’s reason for resignation. Sloan had been a BofA directodr for13 years. In early June, four outsidr directors were electedto BofA’s board. They are formee Federal Reserve GovernorSusan Bies, former Compassa Bancshares Inc. chief executive and chairman D. Paul former Federal Deposit Insurance chairman Donald Powell and retiresd BankOne Corp. and Visa International Inc. executive Willia m Boardman. BofA’s board has been under intense scrutinyh in recent months as the bank sufferef through asharp stock-price decline after acquiring Merrilp Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayer aid.
At the bank’sd annual meeting in late April, shareholders voted to strip Chief Executive Kenneth Lewis of his position as board Walter Massey was installed as the new chairman and has indicateed the board needs tobe re-evaluated. Lewis remainas the bank’s CEO and president.
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