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MarketScreener Homepage  >  Equities  >  Nyse  >  Bank of America Corporation    BAC

BANK OF AMERICA CORPORATION

(BAC)
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Bank of America Names Nowell to Succeed Bovender as Lead Independent Director

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09/24/2020 | 08:31am EDT

By Colin Kellaher

 

Bank of America Corp. on Thursday said its board has designated Lionel Nowell to succeed Jack Bovender as lead independent director in April.

The Charlotte, N.C., bank said Mr. Bovender, 75 years old, would retire from the board at the annual shareholder meeting in April in accordance with its corporate-governance guidelines.

Mr. Bovender, a BofA director since January 2013, became lead independent director in October 2014 when the board voted to make Brian Moynihan chairman as well as chief executive.

The bank had previously split the roles of chairman and CEO in 2009 after a shareholder vote pressured it to do so, and the decision to reunite the roles drew criticism from some investors, partly because the board had to override the shareholder vote.

BofA at the time said it made the move after careful consideration, and that Mr. Moynihan, who still serves as chairman and CEO, was well suited for the job.

Mr. Nowell, 65, has been an independent director at Bank of America since January 2013 and also serves on the boards of Ecolab Inc. and Textron Inc. He previously served as senior vice president and treasurer of PepsiCo Inc.

 

--Christina Rexrode contributed to this article

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION -1.87% 24.46 Delayed Quote.-29.30%
ECOLAB INC. -3.04% 198.65 Delayed Quote.6.16%
PEPSICO, INC. -1.40% 137.56 Delayed Quote.2.11%
TEXTRON INC. -3.55% 33.93 Delayed Quote.-21.10%
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Financials (USD)
Sales 2020 86 164 M - -
Net income 2020 15 394 M - -
Net Debt 2020 - - -
P/E ratio 2020 14,3x
Yield 2020 2,89%
Capitalization 216 B 216 B -
Capi. / Sales 2020 2,50x
Capi. / Sales 2021 2,52x
Nbr of Employees 211 225
Free-Float 99,9%
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Technical analysis trends BANK OF AMERICA CORPORATION
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 28,54 $
Last Close Price 24,90 $
Spread / Highest target 52,6%
Spread / Average Target 14,6%
Spread / Lowest Target -11,6%
EPS Revisions
Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
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