Bank of America says three directors quit as exodus totals 10

Bank of America Corp., the lender that took $45 billion in US aid, said three directors resigned this week, pushing the total of departing board members to 10 since April.

John Collins, William Barnett III and Gary Countryman resigned, according to a regulatory filing. The exits weren’t the result of a disagreement with management, the Charlotte, North Carolina-based bank said.

Bank of America stripped Chief Executive Officer Kenneth Lewis of his chairman title in April after criticism of how he handled the bank’s January 1 purchase of Merrill Lynch & Co. He was replaced by Walter Massey, a retired college president. The lender also replaced Chief Risk Officer Amy Woods Brinkley with Gregory L. Curl, who helped Lewis arrange acquisitions including Countrywide Financial Corp.

The bank named four new directors in June. They are ex- Federal Reserve Board Governor Susan Bies, Donald Powell, former chairman of the Federal Deposit Insurance Corp., Paul Jones and William Boardman.

Bank of America plans to add more board members later this year, spokesman Scott Silvestri said. He declined further comment on the board changes.

Barnett, Collins and Countryman joined the bank’s board after the 2004 purchase of FleetBoston Corp. Collins and Countryman live in Boston, while Barnett is the mayor of Spartanburg, South Carolina.