Management Turnover as Change Agent

Monday, February 2, 2009

CEO Watch - Ken Lewis, Bank of America, Update 1

Ken Lewis, Bank of America’s embattled CEO, is not out of the woods yet.  While Lewis managed the other day to get the support of the bank’s board, today’s New York Post in an article by James Doran stated,

A group of angry Bank of America shareholders plans to demand that Chairman and Chief Executive Officer Ken Lewis get the boot at the bank’s upcoming annual meeting. 

Whether the shareholder suit referred to in the NY Post story or other related outside pressures will ultimately result in Lewis’ head only time will tell.  At a minimum, expect far more turmoil as to Lewis’ tenure and management approach.  

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