CNBC’s Charlie Gasparino checked in on the fate of Ken Lewis, the Bank of America CEO whose disastrous acquisition decisions have recently destroyed the firm’s shareholders (BAC). Ken Lewis’s job is secure, Charlie says, because the board supports him.
So can we infer from this that the Board also supports the destruction of Bank of America’s shareholders? If we aren’t supposed to infer that, what are we supposed to infer?
What, exactly, would Ken Lewis have to do to shake the Board’s support of him? Go to Davos?*
*In case you’re not obsessed with this story, one of the breach-of-trust issues that Lewis’s smear-John-Thain propaganda campaign highlighted yesterday was Thain’s intention to go to the Davos economic forum despite frowns from some senior Bank of America execs.