Did Big Government Force Out Bank of America (BAC) CFO?
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July 23, 2015 5:51 PM EDT
By Dan Freed
NEW YORK (Reuters) - The surprise departure of Bruce Thompson as finance chief of Bank of America Corp (NYSE: BAC) reflected his desire to lead a company, an outcome that seemed unlikely to happen soon if he stayed, two sources familiar with the matter told Reuters.
The bank announced late Wednesday that Thompson, 51, was stepping down after more than five-and-a-half years as chief financial officer, but gave no explanation for the move.
Thompson's interest in heading a company was at least one reason for his leaving, the sources said:... More
July 22, 2015 7:06 PM EDT
Late Wednesday, Bank of America (NYSE: BAC) announced a management shake-up that included the departure of Chief Financial Officer Bruce Thompson.
In addition, Global Human Resources Executive Andrea Smith will assume a newly created position as chief administrative officer. Vice Chairman David Darnell has decided to retire by the fourth quarter, after more than 35 years with the company.
Paul Donofrio, who has been with Bank of America since 1999 and has 25 years of global corporate and investment banking experience, will become CFO, effective August 1.
As CFO, Bruce has put our company on a... More
