Bank of America Corp. (NYSE: BAC) said Monday it appointed Charles "
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Holliday, 61, is also the board chairman E.I. du Pont de Nemours and
The board also approved a resolution to reduce its size to 15 directors, from 18 directors.
The announcement of Holliday's appointment comes amid intensifying scrutiny over Bank of America's acquisition of Merrill Lynch & Co. last fall.
On Monday, the bank was facing a deadline from a Congressional committee to turn over information about its acquisition of Merrill.
In a letter to Bank of America last week, Rep. Edolphus Towns (D-NY), said the company neglected to provide key information about growing problems at the investment bank to shareholders.
It was not immediately known if Bank of America complied with the 12:00 p.m. ET deadline to provide details about when the bank was aware of mounting losses and bonus payments at Merrill. However, a spokesman said the company is working with the committee to provide the requested information.
Seven directors have resigned from Bank of America's board since shareholders replaced the bank's chairman in April.
Bank of America said Holliday previously served as CEO of DuPont, after joining the company in 1970 as an engineer.
Bank of America last month also appointed Robert Scully to its board of directors. Scully, 59, served as a member of the office of the chairman of Morgan Stanley focusing on the firm's key clients until January, when he retired.
Shares of the company fell 38 cents, or 2.2 percent, to close at $17.25.
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