Why may Bank of America Corp Chief Executive Kenneth Lewis delay his retirement?”
NEW YORK – Bank of America Corp Chief Executive Kenneth Lewis has said he would consider postponing his retirement if directors need more time to find a successor or smooth the transition to the next CEO, the Wall Street Journal reported on Friday. Bank of America CEO Lewis may delay retiring – WSJ Bank of America CEO Kenneth Lewis (2nd L) walks down the street in front of the corporate headquarters in Charlotte, North Carolina July 17, 2009. Bank of America Corp, the largest U.S. bank, posted a quarterly profit that topped Wall Street forecasts but warned of a fresh surge in soured loans to credit card, mortgage and business customers. (Reuters Photo / Chris Keane ) 1 of 1 Full Size Citing a person close to the executive, the newspaper said Lewis’s willingness to stay at the Charlotte, North Carolina-based bank beyond his planned Dec. 31 retirement date is the latest sign of the difficulties directors have faced in finding a replacement. Tensions have mounted as various internal and e
The 62-year-old Lewis has no plans to backtrack on his Sept. 30 retirement announcement, indicating only that he could act as a “bridge” until a successor is found, according to the Journal’s source. While Bank of America directors have shown no obvious interest in the idea so far, “the door isn’t shut,” the person told the newspaper. The board has completed its interviews of inside and outside CEO candidates and is expected to deliberate over the weekend, according to another person familiar with the discussions, the Journal said. NEW YORK – Bank of America Corp Chief Executive Kenneth Lewis has said he would consider postponing his retirement if directors need more time to find a successor or smooth the transition to the next CEO, the Wall Street Journal reported on Friday.
Bank of America Corp Chief Executive Kenneth Lewis has said he would consider postponing his retirement if directors need more time to find a successor or smooth the transition to the next CEO, the Wall Street Journal reported on Friday. Citing a person close to the executive, the newspaper said Lewis’s willingness to stay at the Charlotte, North Carolina-based bank beyond his planned December 31 retirement date is the latest sign of the difficulties directors have faced in finding a replacement.
