posted
Apr 30, 2009 by admin
Ken Lewis was ousted as chairman of Bank of America Wednesday after shareholders angry about the company’s acquisition of Merrill Lynch voted to separate the job from that of chief executive.
Lewis will remain the CEO of the bank, but board member Walter E. Massey, president emeritus of Morehouse College in Atlanta, will become Bank of America Corp.’s chairman. The rebuke from the company’s shareholders was a stunning turn of events for Lewis, who a year ago was at the top of the banking industry and whose job as CEO is still marked by uncertainty.