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BofA Names Board for Merged Firm

CALIFORNIA / News and Insight on Business in the
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September 30, 1998| From Bloomberg News

CHARLOTTE, N.C. — BankAmerica Corp., which is to merge Wednesday with NationsBank Corp. to become the biggest U.S. bank, announced its new 20-member board.

Under the merger agreement made public in April, the board consists of 11 directors of NationsBank and nine directors of BankAmerica. The new board takes effect when the $44.4-billion merger is completed today.

Among the board members is Hugh McColl, chairman and chief executive of NationsBank who will become chairman and chief executive of the new BankAmerica, and David Coulter, chairman and chief executive of BankAmerica, who is to become president of the new company.

The new BankAmerica will have $572 billion in assets, with full-service operations in 22 states and the District of Columbia. It will be based in Charlotte, N.C., home of NationsBank. San Francisco, the current headquarters of BankAmerica, will be the base of the new company's wholesale banking operations.

The directors, listed in alphabetical order, include:

* Timm Crull, a director of BankAmerica since 1992, who served as chairman and chief executive of Nestle USA Inc.

* Donald Guinn, retired chairman and chief executive of Pacific Telesis Group.

* W.W. "Hootie" Johnson, former chairman and chief executive of Bankers Trust of South Carolina, which was merged into NationsBank in 1986.

* Richard Rosenberg, the retired chairman and chief executive of BankAmerica.

* O. Temple Sloan Jr., chairman and chief executive of General Parts Inc.. He has been a NationsBank director since 1996.

* Michael Spence, dean of the Graduate School of Business at Stanford University.

* Solomon Trujillo, president and chief executive of USWest Communications Group.

* Jackie M. Ward is president and chief executive of Computer Generation Inc.

* Shirley Young, vice president of General Motors Corp.

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