Bank of America Board Appoints New Directors
CHARLOTTE, N.C. -- January 23, 2013
The Bank of America Corporation Board of Directors today appointed Arnold
Donald, a former chairman and chief executive officer of Merisant Co., and
Lionel L. Nowell III, a former treasurer of PepsiCo Inc., as new directors.
The appointments are effective immediately.
“The board welcomes the extensive expertise and judgment Arnold and Lionel
bring,” said Charles O. Holliday, chairman of the Bank of America board. “We
look forward to working with them.”
“The management team will benefit from the perspectives and experience of
these new board members,” said Bank of America Chief Executive Officer Brian
Donald, 58, is an investor and management consultant operating through his
private firm, AWD Group Plc, LLC. He previously served as president and chief
executive officer of The Executive Leadership Council, a not-for-profit
organization that provides African-American executives at major U.S. companies
with a professional network and a forum on business issues. Previously he was
president and CEO of the Juvenile Diabetes Research Foundation International.
From 2000 to 2003, Donald served as chairman and CEO of Merisant, a privately
held global manufacturer of tabletop sweeteners, and chairman until 2005.
Prior to co-founding Merisant, he spent more than 20 years at Monsanto Co.,
where he held several senior leadership positions with global responsibilities
including president of its Agricultural Group and president of its Nutrition
and Consumer Sector. He joined Monsanto in 1977.
Donald received a bachelor’s degree in economics from Carleton College, a
bachelor’s degree in mechanical engineering from Washington University and a
master’s in business administration from The University of Chicago Booth
School of Business. He serves as a member of the boards of Carnival Corp. and
an affiliate, Crown Holdings Inc. and The Laclede Group, Inc., as well as
not-for-profit boards including Carleton College; Washington University; and
Lionel L. Nowell III
Nowell, 58, served as treasurer of PepsiCo from 2001 to 2009. Previously he
served as chief financial officer of The Pepsi Bottling Group, a position he
assumed in 2000, and was PepsiCo’s controller before joining Pepsi Bottling.
He joined PepsiCo from RJR Nabisco Inc., where he was a Strategy and Business
Prior to joining RJR Nabisco, Nowell held various senior financial roles at
the Pillsbury division of Diageo Plc, including chief financial officer of its
Pillsbury North America, Pillsbury Foodservice and Haagen-Dazs divisions. He
also served as controller of the Pillsbury Company and was vice president of
internal audit. Before Pillsbury, Nowell spent eight years as a finance
executive at Pizza Hut, which at the time was a division of PepsiCo.
Nowell received a bachelor's degree in business administration from Ohio State
University and is a certified public accountant. He serves on the boards of
American Electric Power Co. and Reynolds American Inc., as well as the Dean’s
Advisory Board at Ohio State University Fisher College of Business.
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 53
million consumer and small business relationships with approximately 5,500
retail banking offices and approximately 16,300 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 3 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.
Visit the Bank of America newsroom for more Bank of America news.
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
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