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Article: SEIU Master Trust Leads Successful Shareholder Resolution Forcing Ken Lewis to Resign as Bank of America Chair.
- Article from:
- PR Newswire
- Article date:
- April 29, 2009
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First Ever Binding By-Law Resolution to Pass at an S&P 500 Company
Vote Signals New Day of Greater Accountability to Shareholders
CHARLOTTE, N.C., April 29 /PRNewswire/ -- Today, in one of the most contentious annual shareholder meetings in Bank of America's history, shareholders called for new leadership and greater accountability as 50.3 percent voted in favor of a resolution forcing Chairman Ken Lewis to resign as Chairman of the Board.
"Today, we saw a vote of no confidence in Ken Lewis who has overseen record losses in stock value and whose short-sited business plans have put personal gain ahead of shareholders and the long-term health of ...