Bank of America forms CEO search committee

October 03, 2009|Associated Press

CHARLOTTE, N.C. - Bank of America Corp. said yesterday that it created a six-member committee of directors to find a successor for Ken Lewis, chief executive.

The move was made two days after the bank said Lewis plans to retire at the end of the year.

The committee is being led by Walter Massey, Bank of America chairman, spokesman Bob Stickler confirmed.

Other members include Charles Gifford, Thomas May, Thomas Ryan, Donald Powell, and Charles Holliday. Gifford, May, and Ryan were formerly directors of FleetBoston Financial Corp.

The committee briefly met after a regular bank board meeting yesterday.

Stickler said the committee recognizes the “need for speed in the process,’’ but also wants to find the right replacement. At this time, the committee has not retained a search firm, Stickler said.

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