AP News

Bank of America names 4 new board members


NEW YORK (AP) — Bank of America Corp. added four people to its board of directors Thursday, and most have experience heading large, regulated companies.

The new directors include two women, Linda Hudson, 62, the CEO and president of defense contractor BAE Systems, and Sharon Allen, 60, a former chairman of the advisory firm Deloitte LLP.

The two others are Jack Bovender, 67, a former CEO of the hospital giant HCA, and David Yost. Yost, 65, was the CEO of AmerisourceBergen Corp., a pharmaceutical wholesaler, until last year.

In a statement announcing the appointments, Charles Holliday, the board's chairman, said all four have experience in "leading large, complex organizations, some in highly regulated industries with global businesses."

Bank of America said the four were added to the board in anticipation that other directors will leave either when they reach retirement age or when their terms end next spring. BofA's statement didn't name the board members who are likely to step down.

The second-largest U.S. bank by assets is still cleaning up problems from its purchase of the subprime-lending giant Countrywide Financial four years ago.

Shares of Charlotte, N.C.-based Bank of America fell 6 cents to $8.16 in afternoon trading. The stock is up 47 percent in the year to date.


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