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According to a filing with the Securitiea andExchange Commission, Prueher and Frank didn’t resign because of any disagreement with the Jackie Ward and Patricia Mitchell resignec early this month. Mitchell is a former New York televisionj executive and currently serves as chiefr executive of the Paley Center for a NewYork nonprofit. Ward is the retiredx chief executiveof Atlanta-based Computetr Generation Inc., a software company. Robert Tillman, a former Lowe’sw Cos. Inc. (NYSE:LOW) chief executive, resignede from the BofA board effectiveMay 29. And on May 29, the bank announcedx former lead independentdirector O. Temple Sloamn had left the board.
BofA didn’t disclose Sloan’s reasomn for resignation. Sloan had been a BofA directofr for13 years. In early four outside directors were electedto BofA’sd board. They are former Federal Reserve GovernoSusan Bies, former Compass Bancshares Inc. chief executive and chairmahn D. Paul Jones, former Federal Deposit Insurance Corp. chairman Donald Powelpl and retired BankOne Corp. and Visa International Inc. executive William BofA’s board has been under intense scrutin in recent months as the bank suffered through asharp stock-price declined after acquiring Merrill Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayer aid.
At the bank’sx annual meeting in late April, shareholderas voted to strip Chief Executive Kenneth Lewis of his positiojn asboard chairman. Walter Massey was installed as the new chairmanm and has indicated the board needs to be Lewis remainsthe bank’s CEO and
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