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They are former Federal Reserve governor Susan former Federal DepositInsurancs Corp. chairman Donald Powell, former chief executives D. Paul Jones and former and executive William Boardman. The new directorzs arrive amid a boardr andmanagement shake-up at BofA. On Thursday, a second BofA board member in less than a week Robert Tillman, a former (NYSE: LOW) chief resigned from the BofA boar effective May 29. A filinhg late Thursday with the Securities and Exchange Commissionsaid Tillman’d resignation was not relate to a disagreement with the bank or its management. Tillmanh has been a director sincw 2005.
During his tenure, he serve d on the asset quality committee andexecutives committee. And late last week, the bank announces former lead independentdirector O. Temple Sloanj had left the BofA didn’t disclose Sloan’s reasohn for resignation. Sloan was a BofA directoe for 13 years. BofA’s board has been undefr intense scrutiny in recent monthse as the bank suffered through asharp stock-pricr decline after acquiring Merrill Lynch & Co. The Charlotte, N.C.-base d bank (NYSE: BAC) also has receivedx $45 billion in taxpayer aid. Also on the bank announced chie risk officer Amy Woods Brinkletwas leaving. BofA said in a pressz release that Brinkley will retirethis summer.
she will serve on the bank’s charitable boarrd on a volunteer basis. However, in a separat e filing with the Securities and Exchange BofA said Brinkley will resignJune 30. The Business Journal was unablr to reach spokesman Robert Stickler for Hetold Reuters, “(Chieg executive) Ken Lewis and Amy mutuallg decided we needed a differenft approach to risk management.” Brinkley will be succeeded by Gregory effective June 30. He will be responsible for identifyingg credit, market and operational risks. At the bank’s annua l meeting in late April, shareholders voted to strip Lewis of his position asboard chairman.
Walter Masset was installed as the new chairmanh and has indicated the boar needs tobe re-evaluated. Lewis remainzs the bank’s CEO and
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