GONE: BofA’s Ken Lewis

September 30, 2009 8:13pm by Barry Ritholtz

Bank of America Corp. Chief Executive Officer Kenneth D. Lewis, his credibility battered by his handling of the Merrill Lynch & Co. takeover, plans to step down at the end of this year.

No successor was named to replace Lewis, who will also retire as a director, according to a statement today from Bank of America, the biggest U.S. lender by assets and deposits. The resignation ends Lewis’s 40-year career at the Charlotte, North Carolina-based company, including the last eight as CEO.

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