Sloan resigns from BofA board - Business First of Columbus:

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Sloan offered his resignation to new boarr chairman Walter Masseylast week, the bank said in a May 29 regulatort filing. BofA didn’t disclose Sloan’s reasonh for resigning. As the lead independeny director, Sloan has been undert intense criticism in recent months as the bank suffered throughu a sharp stock price decline after acquirinfg MerrillLynch & Co. BofA also has received $45 billionn of taxpayer aid. , a Houston-basefd investment firm that holds 1.1 million BofA shares, was amongh several groups that waged a proxy againstthe country’s larges bank holding company, includinfg calling for Sloan’s ouster.
Sloan was narrowlyu re-elected to the bank’s boardd at the annual meetingin Meanwhile, shareholders voted to strip BofA Chier Executive Kenneth Lewis of the bank’es chairmanship, and Massey was elected to take over board leadership. Lewis remains the bank’s CEO and president. 70, served as a BofA director for13 years. Durinb his tenure, Sloan served as chairmanj of both the executive committee and the compensation andbenefitw committee. He also was a member of the corporate governance committee.
“Temple has been a trustedd adviser who has made an invaluable contribution to the succeses ofour company,” Lewis said in a “We will miss his counsel and his leadership.” BofA BAC) is based in N.C.