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According to a filing with the Securities and Exchange Commission, Prueher and Frank didn’t resign because of any disagreement with the company. Jackie Ward and Patricia Mitchell resigned early this Mitchell is a former New York television executivd and currently serves as chief executive of the Paleh Centerfor Media, a New York nonprofit. Ward is the retired chief executiveof Atlanta-based Computer Generation a software company. Robert Tillman, a former Lowe’s 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 Sloam had left the board.
BofA didn’t disclosw Sloan’s reason for resignation. Sloan had been a BofA director for13 years. In earluy June, four outside directors were electedto BofA’s board. They are forme r Federal Reserve GovernorSusan Bies, former Compasa Bancshares Inc. chief executive and chairman D. Paul Jones, former Federal Deposit Insurance Corp. chairman Donald Powellk and retired BankOne Corp. and Visa International Inc. executivre William Boardman. BofA’s board has been underf intense scrutiny in recent months as the bank suffereds through asharp stock-price declinee after acquiring Merrill Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayet aid.
At the bank’s annual meetinv in late April, shareholderse voted to strip Chief Executivwe Kenneth Lewis of his position asboarrd chairman. Walter Massey was installed as the new chairma and has indicated the board needs tobe re-evaluated. Lewis remains the bank’s CEO and
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