March 15 Bank of America Corp said
director Mukesh Ambani will step down at the bank's annual
shareholder meeting in May in the latest reshaping of the No. 2
U.S. bank's board.
Ambani, chairman of India's Reliance Industries Ltd
, became a director in March 2011 and brought global
experience to a bank better known for its U.S. consumer
business. He will take a seat on the bank's new, non-fiduciary
global advisory council made up of 13 business, academic and
Ambani joins former Morgan Stanley executive Robert
Scully in announcing plans to leave the bank's 18-member board
this spring. Bank of America has added six directors since
August in the anticipation of planned departures, including by
board members reaching the traditional retirement age of 72.