Bank of America's Ken Lewis to Retire by End of 2009
Ken Lewis, chief executive and president of Bank of America Corp., will retire at the end of the year, the bank said Wednesday. Bank of America has not named a successor. Lewis joined the firm in 1969, and has been chief executive and president since 2001. In a statement announcing his retirement, the 62-year-old Lewis said: "The Merrill Lynch and Countrywide integrations are on track and returning value already. ... We are in position to begin to repay the federal government's TARP investments." Following the announcement, shares of Bank of America were up 1.1% in after-hours trading, at $17.10.