Bank of America's Lewis Stepping Down

CEO Lewis, at the center of the controversy over the ill-fated acquisition of Merrill Lynch, will depart at the end of the year

Bank of America (BAC) CEO Ken Lewis, whose tenure as the head of the Charlotte (N.C.)-based banking giant has been on shaky ground since the bank's troubled purchase of Merrill Lynch a year ago, will retire at the end of the year. No immediate successor has been named, the bank said in a statement issued late in the afternoon on Sept. 30.

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