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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