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 Bank of America Corp. (NYSE:BAC) shareholder Jonathan Finger of Finger Interests Number One Ltd. says that CEO Ken Lewis should resign in the wake of all the high-profile investigations into the
bonuses paid to employees at Merrill Lynch & Co. after the merger."Yes, I think Lewis should step down. The investigations take away from Lewis' effectiveness as a leader, and his position has been compromised," Finger stated in a phone call with Dealscape Wednesday morning. Finger, who waged a campaign to oust Lewis and two other members from the BofA board in April, is concerned about how the accusations Lewis and other BofA executives face from the Securities and Exchange Commission and New York Attorney General Andrew Cuomo are impacting business. He said: "It certainly increases the pressure on the board to do something, and it takes away from focus on the company. I think that it is the board's duty to address these lawsuits. It seems like they wanted to give Lewis a graceful exit. So far the board has favored Lewis, and no one has been held accountable yet." Finger believes that BofA's board should hire independent council to conduct an internal investigation to find out if Lewis and other BofA executives misled investors. - Maria Woehr
CategoriesComments
From: BAC Investor Majority,
I too am a BAC investor, and I'd like to remind you that a majority of the investors agree with Finger, as was demonstrated in the last shareholder vote to strip Lewis of his chairman title. Since then, more details and inconsistencies (from Lewis' own statements) have surfaced casting a shadow on his integrity as even CEO. He should step down for the good of the company, shareholders, and employees.
Posted on:
September 24, 2009 2:11 PM
From: Former BofA Investor,
For BAC INvestor..what kind of "Woose" are You? Between "Legal System" and "interfering" Don't you realize this is one of the "Good Old Boy" networks reacting the way they always do to protect each other rather than their shareholders.
Posted on:
September 25, 2009 6:11 PM
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Mr. Finger - you have disgraced yourself, your company, and other investors. On behalf of the vast majority of BAC investors, please keep your mouth shut and let the legal system do what it needs to do. It is not interfering with the success Bank of America has had this year, and only messages like yours will negatively impact the share price. Mr. Lewis is a hero.