By Christina Rexrode And Peter Rudegeair
About one-third of Bank of America Corp. shareholders voted
against board member Tom May, a sign that some investors are
growing unhappy with the oversight and governance at the bank.
Bank of America said Thursday that 66% of shareholders had voted
for Mr. May, who runs the board's corporate-governance committee,
which was instrumental in elevating CEO Brian Moynihan to the
chairman job last year.
That was a marked change from a year ago, when Mr. May gained
98% support. The average approval rating for a director at an
S&P 500 company is around 97%, according to Institutional
Shareholder Services, which advises big investors on how to
vote.
Write to Christina Rexrode at christina.rexrode@wsj.com
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