Bank of America Corp. said O. Temple Sloan Jr. has resigned from its board.
Sloan, the chairman of an auto parts distributor, had been B of A's lead director until its annual meeting in April, when shareholders stripped Kenneth D. Lewis of his chairman's title and the board picked Walter E. Massey to succeed him, passing over Sloan.
In a conference call last month, Massey said B of A was identifying board candidates with more financial services experience.
He would not say if sitting directors would resign to make room for new members.
Scott Silvestri, a spokesman for the $2.3 trillion-asset Charlotte company, said Sloan made the decision to leave on his own.
Sloan, who sat on several committees, had drawn ire from shareholders after B of A's agreement to buy Merrill Lynch & Co.