Bank of America Announces Results of 2011 Annual Meeting
CHARLOTTE, N.C., May 11, 2011 (BUSINESS WIRE) -- Bank of America Corporation today announced the results of voting matters considered during the company's annual meeting of shareholders in Charlotte.
All 13 director nominees were elected to the board. In addition, management proposals were approved including: compensation for named executive officers in the proxy statement; future advisory votes each year on executive compensation; and the retention of PricewaterhouseCoopers LLP as the company's independent accounting firm.
All eight shareholder proposals were not approved.
Also during the meeting, Bank of America Chief Executive Officer Brian Moynihan provided shareholders with an overview on the company's progress.
"We are a much stronger company than last year," Moynihan said. "We have lowered the risk in our business, built capital, and put many legacy issues behind us. We have a franchise that is pushing forward through the recovery, winning with its top market shares and aggressively managing and addressing the mortgage challenges it faces."
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with approximately 5,800 retail banking offices and approximately 18,000 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
SOURCE: Bank of America Corporation
Investors May Contact:
Kevin Stitt, Bank of America, 1.980.386.5667
Lee McEntire, Bank of America, 1.980.388.6780
Reporters May Contact:
Scott Silvestri, Bank of America, 1.980.388.9921