It will be interesting to see if the shareholders voted for Popeye Brian Moynihan to continue to be on the board of directors. Me personally, that's too much power he always is the CEO a clueless one of whats really going on within the company and could careless of the employees that are responsible of him getting paid and running the company to service the customers. Without us employees there would be NO bank for him to get paid. The anual shareholders meeting will be starting soon this morning. If you haven't voted as a shareholder. I think it's too late now.
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I know this is a place to gripe, and I'm here for it.
But... from a shareholder perspective, it's hard to say that BM isn't crushing. Constantly record breaking profits, in spite of economic challenges.
Having said that... it's a great mystery how the profits continue to be record-breaking, while the trickle down economics simply aren't working out for us plebes, because "the bonus pool is smaller this year"... always.
Meanwhile, Moynihan is making enough money each year to buy a yacht for the swimming pool on his other yacht.
BM is in place to do the bidding of his masters.
CEOs also servicing as board chairs is not necessarily a bad thing, especially during periods like the one we currently find ourselves in.
https://finance.yahoo.com/news/ceos-serving-board-chairs-controversial-124500403.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAGMDcvcQ3cf_wrQ2kxjGUUj2xDcvG3O3kbxXWE8AG5zTNxUjy4km183y4U6166nmx3YbgoHxtnymnzHUYJ3HXS5WzXQGI3exICq63Ml4a6hubxIo6bEwOEoekQSWukzOiaSGwAAgcT7y4Di3n1TY5JBOlbnVhMeqcW5ERubBgu12
The funny part is BM recently told the board they should separate the roles.