Thursday, December 17, 2009 / 3A
Bank of American names next CEO CHARLOTTE (AP) — Bank of America’s board of directors has chosen consumer banking chief Brian Moynihan to replace Ken Lewis as CEO of the nation’s biggest bank on Jan. 1. Their pick of an internal candidate on Wednesday followed a months-long search and unsuccessful attempts to hire a star industry exec-
Woman accused of hiding mother’s death WILMINGTON (AP) — A woman was charged Wednesday with keeping the corpse of her elderly mother in their home for months before the body was discovered in the woman’s bed. Amy Blanche Stewart, 47, was charged with concealment of death, which is considered a low-level felony in North Carolina, the New Hanover County Sheriff ’s Office said. “There is no question it was known to the family and should have been communicated to law enforcement,” said New Hanover County District Attorney Benjamin R. David. “This is not tolerated under North Carolina law and it is not tolerated by this law enforcement community.” Stewart was charged one day after police said a 911 caller reported that Blanche Matilda Roth, 87, was unconscious and not breathing. Police say she likely died in May, before her 88th birthday in September. Stewart posted a $1,000 secured bond and was released from jail. New Hanover County Deputy Charles Smith didn’t know if Stewart had an attorney. She faces her first court appearance Thursday morning at 9 a.m. The family did not immediately return a message seeking comment. Smith said caregivers daily had been going in and out of the house on a quiet cul-de-sac. He would not specify if the caregivers were family members but said they were not nurses. Neighbors said Roth’s family had been living in the house with her and continued to go on as normal after Roth’s reported death. A woman who answered the door at the home refused to comment. David said an autopsy was completed but he declined to reveal its results. No one answered the phone at the state medical examiner’s office late Wednesday. David did not rule out additional charges for abetting concealment of a death, a misdemeanor. He also said investigators were looking into Roth’s financial records, and Sheriff EdMcMahon said more charges may be forthcoming in relation to the handling of Roth’s benefits. Smith said the residence was very well-kept. He said police hadn’t received any calls requesting checks on Roth’s welfare. “They were quiet and stayed to themselves all the time,” said neighbor Ray Taylor, 72. Martin Pedersen, another neighbor, said he had no idea Roth had died. Pedersen, 55, said four other family members, a married couple and two sons, lived in the house and that a younger son went to school every day. He said Stewart’s husband was in a wheelchair, and said Stewart came over to his house a couple of months ago to borrow a set of channel lock pliers because the house’s water had been shut off.
utive for the top job. The negotiations were complicated by pay restrictions imposed by government pay czar Kenneth Feinberg before the bank repaid $45 billion of federal bailout loans needed to prevent its failure over the past year. The move “draws to a close what is probably the executive search from hell,” said Tony Plath, a
finance professor at the University of North Carolina at Charlotte. “They needed to find someone to end the drama so that the bank can get back to regular business, but at the same time I am surprised by their choice. You do have a young and untested CEO running a major commercial bank in the U.S.” Moynihan, 50, joined
the Charlotte-based bank as part of its 2004 purchase of FleetBoston Financial Corp. He has served as BofA general counsel, head of global wealth management and consumer bank chief. He will now join the bank’s board of directors. “I am honored to have the opportunity to lead this important company,” Moynihan said in a state-
ment. “We have everything we need at Bank of America to be the best financial services company in the world. What we need to do now is very simple. We need to execute.” As the new CEO, Moynihan faces many daunting tasks. He must juggle regulatory investigations into the bank’s 2008 acquisition of Mer-
rill Lynch while trying to repair relationship with regulators and members of Congress who sharply criticized Lewis after the bank required billions in aid. Some of those lawmakers, including Maryland Democrat Rep. Elijah Cummings, had also questioned Moynihan’s leadership skills during a hearing on the Merrill takeover.
Published on Dec 17, 2009