Built-in Microwaves
Sloan offered his resignation to new boarx chairman Walter Masseylast week, the bank said in a May 29 regulatoryh filing. BofA didn’t disclose Sloan’s reason for As the lead independent director, Sloanm has been under intense criticism in recent monthsw as the bank suffered through a sharop stock price decline after acquiring MerrillLyncyh & Co. BofA also has receive d $45 billion of taxpayer aid. , a Houston-base investment firm that holds 1.1 million BofA shares, was amonhg several groups that waged a proxy againstthe country’sx largest bank holding company, includingt calling for Sloan’s ouster.
Sloan was narrowly re-elected to the bank’ s board at the annual meetingbin April. Meanwhile, shareholders voted to strip BofA Chiedf Executive Kenneth Lewis ofthe bank’s chairmanship, and Masseg was elected to take over boards leadership. Lewis remains the bank’s CEO and president. Sloan, 70, serverd as a BofA director for 13 Duringhis tenure, Sloan served as chairman of both the executive committee and the compensatioj and benefits committee. He also was a member of the corporat egovernance committee. “Temple has been a trusted adviseer who has made an invaluable contribution to the success of our Lewis said ina statement.
“We will miss his counselo and his leadership.” BofA (NYSE: BAC) is base in Charlotte, N.C.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment