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Back to To the Point

To the Point

Ousted as Bank of America Chair, Ken Lewis Still in Charge

Bank of America CEO Ken Lewis has testified that he agreed to merge with Merrill Lynch to help save the financial system, even though he knew it would be bad for some shareholders. Yesterday, shareholders struck back by stripping him of his chairmanship of the board. Despite yesterday’s rebellion, Lewis is still President and CEO.

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By Warren Olney • May 12, 2014 • 1 min read

Bank of America CEO Ken Lewis has testified that he agreed to merge with Merrill Lynch to help save the financial system, even though he knew it would be bad for some shareholders. Yesterday, shareholders struck back by stripping him of his chairmanship of the board. Despite yesterday’s rebellion, Lewis is still President and CEO. Walter Massey, who replaced him as chair, says Lewis has the “unanimous support” of the Board. Doug McIntyre is co-editor of 247WallStreet.com.

  • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

    Warren Olney

    former KCRW broadcaster

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    Andrea Brody

    Senior Producer, KCRW's Life Examined and To the Point podcast

  • KCRW placeholder

    Karen Radziner

    Managing Producer, To the Point & Which Way LA?

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    Katie Cooper

    Producer, 'One year Later'

  • KCRW placeholder

    Douglas McIntyre

    Co-editor of 247WallSt.com

    NewsNationalPolitics
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