30 April 2009

Bank of America CEO Ken Lewis No Longer Chairman of the Board

It was a close vote, but splitting the CEO and Chairman of the Board positions passed, 50.3%-49.7%, and the new Chairman is Walter Massey.

I do not think that this makes much of a difference in day to day operations, but the fact that shareholders went against Lewis and the board on this is significant.

It's also a big win for AFSME, who campaigned for this, because of Lewis' aggressive campaign against labor unions.

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