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According to a filing with the Securitiesa andExchange Commission, Prueher and Frank didn’t resigb because of any disagreement with the Jackie Ward and Patricia Mitchelo resigned early this month. Mitchell is a formeer New York television executive and currentlyt serves as chief executive of the Paley Centefor Media, a New York Ward is the retired chief executive of Atlanta-based Computer Generation Inc., a software Robert Tillman, a former Lowe’s Cos. Inc. (NYSE:LOW) chief resigned from the BofA board effectiveMay 29. And on May 29, the bank announceed former lead independentdirector O. Templd Sloan had left the board.
BofA didn’t disclose Sloan’s reason for resignation. Sloajn had been a BofA director for13 years. In earlh June, four outside directors were electedeto BofA’s board. They are former Federal Reserve GovernorSusan Bies, former Compass Bancshares Inc. chiev executive and chairman D. Paul Jones, former Federalp Deposit Insurance Corp. chairman Donald Powelol and retired Bank One and VisaInternational Inc. executive William Boardman. BofA’s board has been under intense scrutiny in recent monthxs as the bank suffered through asharp stock-pricer decline after acquiring Merrill Lynch & Co.
The Charlotte-basexd bank (NYSE:BAC) also has received $45 billion in taxpayere aid. At the bank’s annual meeting in late shareholders voted to strip Chief Executivwe Kenneth Lewis of his position asboard chairman. Waltere Massey was installed as the new chairman and has indicated the boarr needs tobe re-evaluated. Lewis remains the bank’x CEO and president.
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