The Big Picture » GONE: BofA’s Ken Lewis

GONE: BofA’s Ken Lewis

Posted By Barry Ritholtz On September 30, 2009 @ 8:13 pm In Bailouts,Corporate Management | Comments Disabled

Bank of America Corp. Chief Executive Officer Kenneth D. Lewis, his credibility battered by his handling of the Merrill Lynch & Co. takeover, plans to step down at the end of this year.

No successor was named to replace Lewis, who will also retire as a director, according to a statement today from Bank of America, the biggest U.S. lender by assets and deposits. The resignation ends Lewis’s 40-year career at the Charlotte, North Carolina-based company, including the last eight as CEO.

Discuss . . .

Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2009/09/gone-bofas-ken-lewis/

URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/apps/news?pid=20601087&sid=ajJjaeenclgU

Click here to print.