Jan 31 Bank of America Corp director Robert Scully won't run for re-election at the annual meeting this spring, in the latest in a series of changes on the board.
Scully, 62, a former Morgan Stanley executive, informed the company of his decision last week, according to a securities filing on Thursday. He joined the board in 2009 as part of an influx of new directors with financial expertise and banking experience as the bank struggled with its Merrill Lynch acquisition.
Last week, the No. 2 U.S. bank by assets added two directors after bringing on four in August. The bank had said it was anticipating some board member retirements, with three directors at or near the traditional board retirement age of 72.