Bank of America Corporation has announced that William P. Boardman would not seek another term as director at its annual meeting of shareholders in May.
'We are very grateful for Bill's service on the board as the company and the nation's economy emerged from the financial crisis', said Bank of America Chairman Chad Holliday.
Details regarding the directors, who will stand for election, and other voting matters for shareholder consideration, will be included in the company's annual proxy statement when it is filed with the Securities and Exchange Commission later today.
'When I agreed to come out of retirement to join the Bank of America board, I committed to doing it for two years', said Boardman, 69, who was elected to the board in June 2009. 'Now that those two years are complete, I plan to return to retirement. I wish Bank of America the best going forward'.
Boardman was chairman of Visa International, Inc. from 1996 until his retirement in 2005 and also formerly served as a director of both that company and Visa USA Inc. A native of Columbus, Ohio, he was an executive at Bank One Corporation from 1984 through 2001, serving at various times as chairman and chief executive officer of its credit card subsidiary First USA and as vice chairman and director of Bank One. Previously, he practiced law in Columbus.