By Christina Rexrode
Bank of America Corp. shareholders re-elected all members of its
board directors on Wednesday, according to preliminary tallies from
the bank's annual meeting in its headquarters city of Charlotte,
N.C.
Shareholders also approved CEO and Chairman Brian Moynihan's pay
by 94%, in line with last year's approval rating.
The bank didn't immediately disclose the margins by which board
members had been elected. Two influential proxy-advisory firms,
Institutional Shareholder Services and Glass Lewis, had recommended
that investors vote against the head of the board's
corporate-governance committee, Tom May.
Shareholders last year approved Mr. Moynihan's pay by 93.5%. The
average approval rating for "say on pay" proposals at public
companies is about 92%, according to ISS.
Bank of America paid Mr. Moynihan $13 million for 2014, down
from $14 million the year before.
Write to Christina Rexrode at christina.rexrode@wsj.com
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