Ken Lewis Booted!

Bank of America (BAC) shareholders have voted to split the Chairman and CEO roles.

This isn’t just a governance issue: It means they’ve kicked CEO Ken Lewis out of his role as Chairman.

The new Chairman is Walter Massey, who currently serves as a non-executive director.

The company’s press release is here

The proposal to split the chairman and CEO roles was indeed extremely close: 50.34% vs. 49.66%.

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