Chairman of Bank of America, Charles K. (Chad) Gifford, who is also a director of the company, has decided to
retire as chairman effective
January 31, 2005. He will remain a member of the board of directors.
“It’s been an honor and a privilege to work for this company for the past
38 years, to lead BankBoston and Fleet through important mergers and dramatic
growth, and to serve as chairman through our most recent merger,” said
Gifford.
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Kenneth D. Lewis, chief executive officer and president, was elected chairman at its meeting December 14 to succeed Gifford
in that role. Lewis first became a member of the board in 1997, and previously
served as chairman from April 2001 through March 2004. Lewis will continue to
serve as chief executive officer and president.
Gifford was named president and
COO following the merger of BankBoston and Fleet Financial Group in October
1999. He became chief executive officer on December 31, 2001 and chairman on
December 31, 2002.
