Bank of America Corp. (NYSE:BAC) announced the appointment of four new members to its board of directors on Thursday. The new additions are made in anticipation of several current directors retiring.
The new directors include Linda Hudson, former CEO and president of a defense contractor and Sharon Allen, former chairman of a business advisory company. The two ladies are respectively 60 and 62 years old.
The new men onboard are Jack Bovender and David Yost, 67 and 65, respectively. Both have previously worked as CEOs of large healthcare businesses.
Charles Holliday, chairman of BAC’s board, expressed his satisfaction with the enrollment of the new directors, praising them for their diverse and rich experience and their past work in industries that are the subject of close government scrutiny, much like every banking business, especially now.
BAC currently has a board of 16 with the new additions but this number is expected to decrease, with several members at or around retirement age or such whose term ends next year.
Bank of America’s rally of share price seems to have come to a bit of a halt, closing down two days after a couple of weeks of price consolidation. Gapping down at today’s open, it seems that the winning streak may indeed be at an end.
