Bank of America has announced the appointment of Lionel Nowell as lead independent director. Mr. Nowell was unanimously selected by the company’s Board of Directors, and will succeed Jack Bovender upon his retirement in April 2021.
“The team at Bank of America is looking forward to working more closely with Lionel as we continue to drive responsible growth,” said Chairman and Chief Executive Officer Brian Moynihan. “His extensive experience and leadership across many highly regulated global businesses make him an ideal candidate to succeed Jack.”
Mr. Nowell is a former financial executive with more than 30 years of experience in treasury, accounting, auditing and financial management. He has served on the Board of Directors at Bank of America for more than seven years, and is also a board member at companies including Textron Inc., Ecolab, American Electric Power, and HD Supply.
"I am both honored and humbled to be selected by my peers to follow Jack’s successful tenure,” Mr. Nowell said. “Since joining in 2013, I have witnessed firsthand the Board’s commitment to strong independent oversight, and I look forward to continuing that tradition as lead independent director.”