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It’s not often that a bold truth breaks through the polished surface of a Sunday talk show—especially during the holidays. Yet, in just a few words, Massachusetts Governor Deval Patrick managed to hold a mirror up to an entire decade, pointing out the hard truths many have avoided. Appearing on Meet the Press alongside New […]

The search for a new CEO at Bank of America Corp. continues with no clear end in sight. Initially, the board promised a decision by October. Then came and went Thanksgiving—still, no appointment. Now, the timeline has shifted again, with “first quarter 2010” being the new target. According to The Wall Street Journal, the board

A Familiar Story in the Headlines Last week’s headlines in The Wall Street Journal painted a now all-too-familiar picture of executive priorities in corporate America. First, AIG’s CEO made waves by complaining about pay restrictions and threatening to quit—after only a few months on the job. Not long after, he backtracked and said he would

Two Chicago Guys and a CEO Search Local Power Meets National Influence Bank of America Chairman Walter Massey has selected Charles A. Tribbett III, an executive recruiter with Russell Reynolds Associates, to lead the search for the bank’s next CEO, according to sources familiar with the decision. While the firm has not confirmed Tribbett’s appointment

The Governance Crisis Continues Week two of Bank of America’s (BofA) ongoing governance debacle shows no signs of improvement. The bank and its board face mounting criticism from all directions, resulting in hasty decisions like the on-again, off-again “emergency CEOs” that few understand, much less believe, could be a true solution. Mainstream media continues to

Publisher’s Note: The following was first published today on BusinessWeek.com under their ManagementIQ blog heading. You can read the direct link here. Or feel free to continue reading below. The Real Issue for BofA: Leadership, Not Just the CEO Search The quest to fill the CEO position at Bank of America (BofA) may capture the

Walter Massey, Chairman of Bank of America Corp. (BofA), has formed a search committee to identify a successor for CEO Ken Lewis, according to sources familiar with the matter. The committee is considering two executive search firms, Spencer Stuart and Heidrick & Struggles, to help identify potential candidates. Spencer Stuart has been working with BofA

Delta’s Drama Kings Things aren’t always what they seem. In a recent announcement, Delta Airlines revealed that President Ed Bastian will retain the CFO title, effectively nixing plans to hire a new CFO. The company’s official line? Bastian’s dual role will help “seamlessly maintain relationships and momentum.” But let’s be honest—this sounds like corporate fluff.

Merger of the Unequal? A little rational thinking would go a long way in explaining the current mess at Citigroup and Merrill Lynch. A touch of humor wouldn’t hurt either, but unfortunately, both are in short supply these days. Before we try to inject some logic into the situation, here’s an idea: Why not merge

CEO Turnover: From Watch to Oust The Season of Boardroom Shakeups Throw out the first ceremonial board pitch. Let the compensation pigskins fly. CEO turnover season is officially here. The resignation of Gary Forsee, the now former CEO of Sprint, signals that rare time of year when boards convene to “assess” their CEO leadership. Proxies