Will shareholders boot Ken Lewis?

There's a lot of anger directed at Bank of America CEO Ken Lewis right now. With annual-meeting season coming up, some shareholders are girding for war. The New York Post reports a group of dissident investors plan to ask for changes, splitting the CEO and chairman job and various related governance changes. They will also press to make sure Lewis does not get either job.

We'll see how proxy firms and big institutions respond. Certainly, board members must be a bit nervous; all this happened on their watch. Here's some board criticism from one analyst, who calls out directors Chad Gifford and Temple Sloan by name. Whew! He says this about Lewis: "Name me another CEO of a large financial institution who, after running his company into the ground as thoroughly as Ken Lewis has done at Bank of America, still has a job." Bank of America usually holds its meeting in April.

For more:
- here's the Post article

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Ken Lewis news from FierceFinance

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