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This evening Kenneth Lewis was replaced as the chairman of the board of Bank of America. After the company adjourned its annual meeting, it announced the change in management. Shareholders voted 50.3% in favor to split the roles of chairman and CEO. Kenneth Lewis had held both positions before today.

Walter Massey was named the new chairman of Bank of America. He has been a director at the bank since 1998 and is currently a member of BofA’s audit comittee. He also has other distinctions such as president emeritus of Morehouse College in Atlanta, Georgia as well as a firmer director of BankAmerica Corp.

Lewis will still be the president and CEO.

Jeremy

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