Bank of America Adds Two to Board

Bank of America (BAC) is expanding its board.

The nation's second biggest bank by assets said Wednesday that it has named Arnold Donald, a former chief executive of Merisant, and Lionel Nowell 3rd, a former treasurer at PepsiCo, directors.

The appointments expand Bank of America's board to 18 from 16 members.

Donald, 58, served as CEO of Merisant, a maker of Equal and other sweeteners, which he co-founded in 2000 after holding a series of senior posts at Monsanto.

Nowell, also 58, was chief financial officer of The Pepsi Bottling Group and a controller of the company before serving as treasurer for roughly eight years starting in 2001. He previously held a series of senior financial posts at RJR Nabisco, Pillsbury and Pizza Hut.

"The board welcomes the extensive expertise and judgment Arnold and Lionel bring," Charles Holliday, Bank of America's chairman, said in a press release.