BofA Board Makeover Continues, Two More Directors Resign

June 9th, 2009
| More
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.
See Source
Related Article Tags: Investment Management, Fund Manager and General Financial News

More Recent Headlines

$80 Million Ponzi Scheme pushes HedgeTracker’s 'Hall of Fraud' Closer to $83 Billion

Lord Rothschild Liquidates Investment in Atticus Hedge Fund

Och-Ziff to Self-Fund New Hedge Fund Offerings

GLG Partners Entering Retail Market

BlackRock Leading Race for iShares and BGI

Shareholder Activists Reshaping Bank of America

Palo Alto Concerned Over Canadian Superior’s Shareholders’ Meeting Postponement

Paulson takes a $165 million Hit from Barclays Short

Activist Hedge Fund Manager Ramius Capital to Acquire the Cowen Group

Jeffrey Gendell Launching Tontine Total Return Hedge Fund