15/03/2013 21:42:00

Bank of America: Ambani Decided Not to Seek Another Term on BofA's Board

Related content
Related debate
20 Apr - 
Pointen er, at alle lande i Ruslands vestlige nær..
20 Apr - 
ikke desto mindre, var der kamp mellem Hitler og Stalin..
20 Apr - 
Hitler var døbt kristne og det var alle tilh&ael..

By Shayndi Raice

Bank of America Corp. (BAC) director Mukesh D. Ambani is leaving the board to join the bank's global advisory council, the bank said Friday. He joined the board in 2011 and the bank has not said whether it will fill the vacancy.

Mr. Ambani, chairman and managing director of India's Reliance Industries Ltd. (500325.BY), is the latest in a series of exits from Bank of America's 18-member board. In January, director Robert W. Scully announced he was stepping down.

Three other board members--Donald E. Powell, Charles O. Rossotti and Virgis Colbert--are expected to step down this year, but no formal announcements have been made, according to people familiar with the matter.

All three men are nearing, or exceed, the board's retirement age of 72. The bank has brought on six new board members in the last year, including two new members in January.

Mr. Ambani, 55 and India's richest man, is leaving to join a non-fiduciary group of global business, policy and academic experts the bank set up in January to advise Chief Executive Brian Moynihan on "worldwide relationships."

Mr. Moynihan said the bank's global advisory council is "an ideal venue for the company to continue to benefit from Mukesh's judgment and insights."

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

March 15, 2013 17:42 ET (21:42 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
19 Apr
BAC
Fordi han er muslim (tyrker) og besidder fuldstændig vanvittige tanker om bl. a. jøder og om de opri..
18
19 Apr
BAC
Boersbull - Du mangler bare at skrive "Sieg Heil" til afslutning på dit indlæg. Jeg er ikke imponere..
15
19 Apr
BAC
Beorsbulls indlæg er autentiske. Det værste er, at jeg er sikker på, at en muslimsk indvandrer som B..
9
19 Apr
BAC
Ja, heeeeelt sikkert  Har du også datoen for min indmeldelse i partiet? 
7
20 Apr
BAC
Pointen er, at alle lande i Ruslands vestlige nærhed havde travlt med at søge NATO og EU-medlemsskab..
4
19 Apr
BAC
Putin er så smart, at Kreml har ansat hundredevis af internetbloggere og -kommentatorer, hvis eneste..
4
19 Apr
BAC
Ja, lad argumenter og intellekt råde. Men når man støtter manifeste idoter og tabere, som bruger vol..
3
20 Apr
BAC
Kommunisme, nazisme og fascisme var en reaktion mod kristendommen. De havde ikke rod i den.    Marx ..
2
20 Apr
BAC
Alle tilhængerne af  kommunismen, nazismen og  fascismen havde rod i kristendommen.
2
20 Apr
BAC
man kunne måske have haft lidt respekt konservative kampagne hvis de også turde skrive Stof Nazi Kri..
2

Regulatory news

Tech Companies Send Criticism Along With NSA-Related Data -- Update

04/02/2014 00:06:00
By Danny Yadron Technology companies including Google Inc. and Microsoft Corp. released new figures on the amount of data requests they received from U.S. ..

#

EuroInvestor: In Focus
#

#

EuroInvestor: In Focus
#

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
G4S plc DK : Notice of Annual General Meeting
2
Telenet to acquire BASE Company for €1.325 billion to secure its future as a leading integrated communications provider
3
Banco Comercial Português, SA, informs about public exchange offer
4
Magnetar Financial (UK) LLP - Form 8.3 - Rexam Plc
5
Metso receives major control valve order for petrochemical plant project in Turkmenistan

Related stock quotes

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2015   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
21 April 2015 02:20:58
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20150414.1 - EUROWEB5 - 2015-04-21 03:20:58 - 2015-04-21 02:20:58 - 1000 - Website: OKAY