Bank of America chief quits
Ken Lewis, the embattled chief executive of Bank of America Corporation, is leaving after nearly a year of strife that followed his company’s acquisition of Merrill Lynch.
The bank, America’s largest by assets, said Mr Lewis, 62, decided on his own to leave and would retire as CEO and also leave the company’s board by the end of the year.
The news, coming after shareholders had stripped Mr Lewis of his chairman’s title earlier this year, follows the intense pressure he came under after the Merrill Lynch deal, including criticism about billions of dollars in bonuses given to Merrill Lynch employees.
