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 Moynihan.
Arnold Donald
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 BJC Healthcare.
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
Development executive.
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.
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