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Bank of America names 4 outside directors

/ Source: The Associated Press

Bank of America Corp. says it has named four outsiders to its board of directors after two others resigned over the past week.

The company on Friday announced the appointments of Susan Bies, William Boardman, D. Paul Jones and Donald Powell. Bies is a former Federal Reserve governor, Boardman is a retired executive of Bank One Corp., Jones is a former chief executive of Compass Bancshares Inc., and Powell is the former chairman of the Federal Deposit Insurance Corp. All four are in their 60s.

On Thursday, Robert Tillman resigned from the board. His departure followed the May 29 exit of another outside director, O. Temple Sloan Jr.

The moves come after Bank of America's chief executive, Kenneth Lewis, had the chairman title stripped from him earlier this spring.