Sloan resigns from BofA board - Charlotte Business Journal:

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Sloan offered his resignation to new board chairmab Walter Masseylast week, the bank said in a May 29 regulatorgy filing. BofA didn’t disclose Sloan’as reason for resigning. As the lead independent Sloan has been underf intense criticism in recent months as the bank suffererd through a sharp stock price declinwe after acquiring MerrillLynch & Co. BofA also has receivec $45 billion of taxpayer aid. , a Houston-based investment firm that holdzs 1.1 million BofA shares, was among severakl groups that waged a proxy againsthe country’s largest bank holding company, including calling for Sloan’z ouster.
Sloan was narrowly re-elected to the bank’d board at the annuaol meetingin April. Meanwhile, shareholders voted to strip BofA Chief Executivse Kenneth Lewis ofthe bank’s chairmanship, and Massey was elected to take over board Lewis remains the bank’s CEO and president. 70, served as a BofA director for 13 Duringhis tenure, Sloan served as chairman of both the executivde committee and the compensation and benefits He also was a member of the corporate governance “Temple has been a trusted advisetr who has made an invaluable contribution to the succes of our company,” Lewis said in a “We will miss his counsel and his BofA (NYSE: BAC) is based in N.
C.