School of Management Professor James Post, an authority on corporate governance and business ethics, says that Bank of America won’t be able to resist pressure from federal regulators to restructure the BofA board of directors.
“Shareholders often cooperate to pressure CEOs and boards of directors to listen to their concerns. Rarely do such tactics produce major results. But when your largest ‘stakeholder’ is the federal government, it is best not to ignore the phone calls.”
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