By Lauren Pollock
Bank of America Corp. said directors Charles Holliday and
Clayton Rose have opted not to seek re-election to its board, and
Neil Cotty is leaving his role as chief accounting officer.
Mr. Holliday was previously the chairman of the Charlotte, N.C.,
lender before the board voted last fall to make Brian Moynihan
chairman as well as chief executive. At the time, Bank of America
said Mr. Holliday would remain on the board.
The bank had previously split the roles of chairman and CEO in
2009 after a shareholder vote pressured it to do so, when Ken Lewis
held both jobs. Mr. Holliday, former CEO and chairman of DuPont
Co., had been chairman since 2010.
Mr. Rose, meanwhile, has also served on the board of insurer XL
Group PLC, among other companies, and is a professor at Harvard
Business School. He previously served as vice chairman at J.P.
Morgan Chase & Co. and its predecessor company and headed
global investment banking and global equities.
Bank of America said Thursday that all other current directors
have been nominated for re-election.
Meanwhile, Mr. Cotty will continue as accounting chief during a
transition period before Rudolf Bless takes over.
Mr. Bless joined the company as deputy chief accounting officer
in November and was previously chief accounting officer at Credit
Suisse Group AG.
Write to Lauren Pollock at lauren.pollock@wsj.com
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