Bank of America directors appear to have faith in Lewis

05/1/2009 | Wall Street Journal, The

Bank of America directors are facing outside pressure to find a potential successor for CEO Kenneth Lewis, but the 18-member board appears to continue to support the bank leader. Supporting Mr. Lewis will likely increase tension between the board and shareholders who voted to strip him of his chairmanship. "The onus is now on the board to act on the underlying management and board concerns that drove yesterday's shareholder vote," said William Patterson of the union group Change To Win.

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