Sunday, financial services provider Bank of America Corp. (BAC), in a filing with Securities and Exchange Commission, announced the resignation of three members of the Board of Directors.
The Charlotte, North Carolina-based company, which took $45 billion of federal bailout money, including $20 billion to help the purchase of Merrill Lynch & Co, said John Collins, William Barnet and Gary Countryman resigned as members of the Board of Directors of Bank of America Corporation.
The resignation of Collins was effective July 29. The resignations of Barnet and Countryman were effective July 31. Each director's decision to resign was not as a result of any disagreement with the Corporation or its management, the company noted.
John Collins runs The Collins Group, Inc., a Boston, Massachusetts-based venture capital, private equity investments and management firm.
William Barnet is the Chairman, President and Chief Executive Officer of Spartanburg, South Carolina-based real estate and investments firm The Barnet Company. He has been in his present position since 2001 and has been President of Barnet Development Corporation, a real estate investment firm, since 1990. He has also served as Chairman of William Barnet & Son, LLC, a synthetic fiber processing company, from 2001 to 2006, and served as Chief Executive Officer from 2000 to 2001. He served as President and Chief Executive Officer of William Barnet & Son, Inc. from 1976 to 2000. He also serves as a director of Duke Energy Corporation.
Gary Countryman Chairman Emeritus and Director, Liberty Mutual Group, Boston, Massachusetts, an international and property and casualty insurance company. He served as Chairman of Liberty Mutual Group from 1986 to 2000. He also served as Chief Executive Officer from 1986 to 1998. He also serves as trustee of NSTAR and a director of CBS Corporation.
BAC rose $0.82 or 5.87% and closed Friday's regular trading at $14.79.
For comments and feedback contact: editorial@rttnews.com
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.