With Bank of America's Kenneth Lewis set to retire, it is surprising to learn that the bank's board did not have a succession plan in place since Lewis has been under pressure for some time, Peter Eavis writes in The Wall Street Journal. The board is currently considering appointing a temporary executive. That BofA did not have a candidate to succeed ready shows that regulators need to take more of a hand in the composition of management at banks that have received government aid.

Related Summaries