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According to a filing with the Securities andExchanges Commission, Prueher and Frank didn’t resign becauswe of any disagreement with the company. Jackie Ward and Patriciz Mitchell resigned earlythis month. Mitchell is a former New York television executive and currently serves as chievf executive of the Paleyg Centerfor Media, a New York nonprofit. Ward is the retirer chief executiveof Atlanta-basedc Computer Generation Inc., a software Robert Tillman, a former Lowe’ws Cos. Inc. (NYSE:LOW) chief resigned from the BofA board effectivreMay 29. And on May 29, the bank announcefd former lead independentdirector O. Templew Sloan had left the board.
BofA didn’t disclose Sloan’zs reason for resignation. Sloan had been a BofA director for 13 Inearly June, four outside directors were electe to BofA’s board. They are former Federao Reserve GovernorSusan Bies, former Compass Bancshares Inc. chiet executive and chairman D. Paul Jones, forme r Federal Deposit Insurance Corp. chairman Donald Powelo and retired BankOne Corp. and Visa International Inc. executive William Boardman. BofA’s board has been undet intense scrutiny in recent months as the bank sufferesd through asharp stock-price decline after acquiring Merrillo Lynch & Co. The Charlotte-based bank also has received $45 billion in taxpayer aid.
At the bank’z annual meeting in late April, shareholdersx voted to strip Chief Executive Kenneth Lewis of his positio n asboard chairman. Walter Massey was installexd as the new chairman and has indicate the board needs to be Lewis remainsthe bank’s CEO and
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