The Bankwatch

Tracking the consumer evolution of financial services

Ken Lewis is gone

No surprise but dramatic nonetheless – Ken Lewis is gone as Chairman – the writing is on the wall for him.

Unfortunately he did himself no favours, showing up in Washington looking more like a bling bling movie star, but he was also American Banker’s banker of the year just a few months ago. He left the shareholders no choice today.

How quickly the world changes ……  being chief of a bank ain’t what it was!

New York Times breaking news

Bank of America shareholders stripped Kenneth D. Lewis of his chairman’s title on Wednesday while allowing him to remain president  and chief executive, a vote that may mark the beginning of the end of his leadership at the embattled bank. Walter E. Massey will succeed Mr. Lewis as chairman, the bank said.

Written by Colin Henderson

April 29, 2009 at 17:16

Posted in Uncategorized

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