Bookmark this site
Apparently Bank of America Corp.’s (NYSE:BAC) search for a new CEO is at a standstill, according to a Wall Street Journal report.
The board was hoping to pick a successor for Ken Lewis by Wednesday, but the committee choosing the new CEO needs more time. Lewis actually forewarned that the committee was taking its time during his Oct. 16 earnings conference call. Lewis said on the call that the search for a successor for CEO was being done with a sense of urgency and balance. Lewis said he would give his recommendation for a successor to the board, but he would not tell analysts who it was. However, would any candidate really benefit from Lewis’ thumbs-up in the eye of the public? After all, association with Lewis, who is being scrutinized for his handling of the Merrill Lynch & Co. takeover, is not a positive in the eyes of angry shareholders.
