Wednesday, November 18, 2009

Bank of America's CEO Search Does Not Look Like Fun …

So we now know GMAC's Molina is out of consideration, and evidently so is Prudential's Demchak. It is rumored Demchak pulled himself out of contention due to government restraints on BofA: both in terms of his own compensation, and it is alluded, as regards the ongoing litigation and investigation regarding the Merrill acquisition.
(There is also speculation that BofA's Moynihan is being considered. Let's check his track record: BofA GC for 7 days where his law license was inactive; and his recent total lack of believability in front of Congress. Yeah - am thinking the Board is going to pass.).

Lewis leaves in six weeks; BofA has only six weeks to name executive leadership. Sounds somewhat dire … but maybe not: Chairman Massey is currently on Holiday on a boat somewhere and was inaccessible for comment (not a joke).

Playful conjecture does suggest former Merrill CEO and currently unemployed John Thain is interested in the position, however (am pretty sure that is a joke).

I'm reading: Bank of America's CEO Search Does Not Look Like Fun …Tweet this!

No comments:

Post a Comment

Discussion and feedback is encouraged, but civility and professionalism will be maintained by administrative censoring of abusive or off-topic comments. Thank you.

Note: Only a member of this blog may post a comment.