BofA Board Makeover Continues, Two More Directors Resign

June 9th, 2009
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Last night, Bank of America (BAC) revealed that two more members of the bank’s board of directors had resigned. According to an article from Reuters, Jackie Ward and Patricia Mitchell have stepped down from their directorships.

Both directors lacked the financial expertise that critics have been claiming the bank needs to successfully navigate its troubled situation. Ward, who is retired, was previously the CEO of a software company. Mitchell’s background is in media and she currently serves as the CEO of The Paley Center for Media.

As reported earlier, BofA announced that it had elected four new directors with financial industry experience on Friday of last week.
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Related Article Tags: Investment Management, Fund Manager and General Financial News


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