10 reasons Bank of America CEO should be stripped of his chairman title


  1. The board’s unilateral consolidation of chairman and CEO roles, without a shareholder vote at the time.
  2. The fact that the lead director at the time called the move “thorough and thoughtful.”
  3. Pay raises for the board of directors that came only six weeks after the May 2015 annual meeting.
  4. An intentional lack of transparency when it comes to board decisions, including the October 2014 vote to combine CEO and chairman roles.
  5. The lead director’s lack of bank regulatory experience, visibility, and balance.
  6. There are no timeframes for key financial targets.
  7. There is no scorecard for compensation.
  8. Inconsistent financial metrics in the CEO letter and presentations.
  9. The fact that the bank has seen four CFOs, four chief risk officers, and four heads of wealth  management in just eight years.
  10. The lack of “self-criticism” despite poor performance, including poor return-on-equity and poor stock performance.
  11. http://finance.yahoo.com/news/mayo-10-reasons-bank-america-143231111.html