The Traderszone Network

Published in TZ Latest News 31 July, 2015 by The TZ Newswire Staff

BofA likely to hold vote this year on Moynihan chairmanship: source

Bank of America (BAC.N) is likely to hold a shareholder vote this year to determine whether Chief Executive Brian Moynihan should be allowed to retain his title of chairman of the bank’s board, a person familiar with the matter said on Friday. In October, Moynihan was named chairman in addition to CEO, a move that angered some investors. Bank of America announced just before its annual meeting in May that it would allow shareholders to hold a vote on whether Moynihan should retain the chairmanship.