Bank of America annual meeting tries CEO patience

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The Bank of America (NYSE: BAC) annual shareholder meeting was pretty much what was expected. Angry shareholders took turns taking whacks at the board and CEO Brian Moynihan.

But in the end, all 13 directors were elected, and none of the shareholder-sponsored resolutions passed, not even one that would have required an audit of the mortgage operations, which was the focal point of much of the anger.

Meanwhile, all management proposals were approved, including proposals on compensation for executives, future advisory votes each year on executive pay, and the retention of PricewaterhouseCoopers as the company's independent audit firm.

But one observation from Dow Jones was somewhat surprising: despite a good outcome, a fairly staid meeting (the testiness from some shareholders was expected), and a quite minor protest outside, CEO Brian Moynihan wasn't exactly a paragon of composure.

"Moynihan appeared to grow impatient with shareholder questions. While one man demanded Moynihan himself call him on the phone to discuss what the holder said was a wrongful foreclosure, Moynihan began checking his watch. He also tried to speed along proposals," notes Dow Jones.

He might have been simply trying to stick to schedule. Or they might have been some Freudian-like slips. We rarely see the top dog lose control of his or her nonverbal communication, even when the meetings are really nasty, which wasn't the case . Perhaps Moynihan's communications people will raise this issue with him.

For more:
- here's the Dow Jones article  

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