September 14, 2015 / 3:12 AM / in 2 years

Bank of America officials worried about Moynihan vote: WSJ

Bank of America CEO Brian Moynihan looks on during the White House summit on cybersecurity and consumer protection in Palo Alto, California in this February 13, 2015 file photo. REUTERS/Robert Galbraith

NEW YORK (Reuters) - Some Bank of America Corp (BAC.N) officials told investors they could lose an upcoming shareholder vote on having Brian Moynihan continue as chairman and chief executive of the company, the Wall Street Journal reported on Sunday.

The report, in a story about shareholder discontent with the board, cited “people familiar with the situation” as saying that some bank officials in meetings with investors said a Sept. 22 vote on Moynihan’s two roles “could go either way.”

Aside from the upcoming vote, several large shareholders have pressed for changes in the bank’s board and would like for some of its longest-tenured directors to leave, the newspaper reported.

A Bank of America spokesman was not immediately available for comment.

The company scheduled the vote because of complaints after the directors last year appointed Moynihan to be chairman as well as CEO despite an earlier shareholder vote in favor of having different people in the two roles.

Reporting by David Henry in New York; Editing by Paul Simao

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