The board of directors at Bank of America (BAC) elected one of its own as chair. Charles “Chad” Holliday, Jr. is succeeding Walter Massey in the position. Holliday, 62, served as a director on the BofA board since September 2009. He also served as CEO of DuPont from 1998 until 2008, where he joined as an engineer in 1970. “Chad brings excellent perspective with experience as a chairman and chief executive of a prominent global business. He is a terrific partner on our board and will be an excellent chairman,” said CEO Brian Moynihan. “On behalf of the management team and all our associates, I thank Walter for his service on the board and for his steady hand as our chairman during a uniquely challenging period.” In a statement, the bank said that during the annual meeting of shareholders held today, the proposed 13 directors were popularly elected to the board. In addition, shareholders approved management proposals to increase the authorized shares of common stock, amend the key associate stock plan, executive compensation and the retention of PricewaterhouseCoopers as the company’s independent accountant. Write to Jacob Gaffney.
Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s).see full bio
Most Popular Articles
Latest Articles
Test
The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
-
Freddie Mac’s Donna Spencer on their Servicing Excellence initiative
-
Lower mortgage rates attracting more homebuyers
-
Rocket Pro TPO raises conforming loan limit to $802,650 ahead of FHFA’s decision
-
Show up, don’t show off: Laura O’Connor is redefining success in real estate
-
Between the lines: Understanding the nuances of the NAR settlement
Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s).see full bio