On Air Now

Listen

Listen Live Now » 94.7 FM Central Wisconsin 102.9 FM Wausau, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
37° Feels Like: 28°
Wind: NE 16 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Rain/Wind 41°

Tonight

Rain 36°

Tomorrow

PM Showers/Wind 57°

Alerts

Reliance Chairman Ambani stepping down from BofA board

Mukesh Ambani Chairman and Managing Director of Reliance Industries attends the annual meeting of the World Economic Forum (WEF) in Davos Ja
Mukesh Ambani Chairman and Managing Director of Reliance Industries attends the annual meeting of the World Economic Forum (WEF) in Davos Ja

(Reuters) - Bank of America Corp said director Mukesh Ambani will step down at the bank's annual shareholder meeting in May in the latest reshaping of the No. 2 U.S. bank's board.

Ambani, chairman of India's Reliance Industries Ltd , became a director in March 2011 and brought global experience to a bank better known for its U.S. consumer business. He will take a seat on the bank's new, non-fiduciary global advisory council made up of 13 business, academic and policy leaders.

Ambani joins former Morgan Stanley executive Robert Scully in announcing plans to leave the bank's 18-member board this spring. Bank of America has added six directors since August in the anticipation of planned departures, including by board members reaching the traditional retirement age of 72.

(Reporting by Rick Rothacker in Charlotte, N.C.; Editing by Gary Hill)

Comments