Kenneth D. Lewis served as the CEO of Bank of America Corporation from April 2001 until December 2009. He has a strong background in finance, having started with the company in 1969. During his tenure, Bank of America became one...
Kenneth D. Lewis served as the CEO of Bank of America Corporation from April 2001 until December 2009. He has a strong background in finance, having started with the company in 1969. During his tenure, Bank of America became one of the largest financial institutions globally. In 2008, Lewis received a total compensation of nearly $10 million, heavily influenced by the company's performance, which took a toll during the financial crisis. Interestingly, he waived his salary for 2009, returning any amounts received due to the economic downturn and his company's participation in the Troubled Asset Relief Program (TARP). By the end of his time as CEO, he had a notable pension plan in place, though his retirement benefits were frozen in 2002, limiting further growth. Lewis's leadership marked a significant era for Bank of America as it navigated through challenging economic times, culminating in his retirement and the transition to Brian T. Moynihan as CEO.