Bank Of America Corporation: Crisis Generation

cuss of America Corporation: Crisis Generation
avow of America’s CEO to Retire
On September 30, 2009, CEO and President of edge of America Corporation Ken Lewis announced his retirement hard-hitting December 31, 2009. According to Bank of America (2009), after 40 years of service to the lodge Lewis addressed his fellow associates stating In 1969, I chose to come here because of the culture and the people. We believed that with trust and teamwork, anything is possible. We catch ones breath that company today. acceptership now lies with the Board of Directors, who has the take exception of determining who will be the next Chief executive director Officer for Bank of America Corporation. Although the board has roughly terce months to make this decision, it is a decision that will have a substantial impact on the millions of people affiliated with the company around the world.
A Brief History of Lewis at Bank of America
Ken Lewis began working at the “North Carolina National Bank (NCNB, predecessor to NationsBank and Bank of America) in 1969 as a confidence analyst in Charlotte” (Bank, 2009). In 2001, Bank of America’s CEO and chairman Hugh McColl stepped down and named Ken Lewis as his successor.



During his clip at the corporation Lewis was named “Banker of the Year” in 2002 and 2008, and one of the one C most influential people in the world by Time magazine in 2007 (Bank, 2009).
Lewis was known for his financial try and efficiency. After taking the lead position of a multi-billion horse corporation, he set out to improve business trading operations at Bank of America. From 2001-2009, he was responsible for seven acquisitions, of which either but one enhanced the financial stability of the bank.

What Lead Lewis to Retirement
In September 2008, Lewis announced his intentions to acquire Merrill Lynch & Co. to thwart it from going into bankruptcy (Sorkin, 2008). By January 2009 the takeover of Merrill Lynch was set. save in late January, Bank of...If you want to get a full essay, order it on our website: Orderessay



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