BofA Investors Strip Lewis of Chairman Title

While the company topped expectations with a first-quarter profit of $4.2 billion, it also set aside $13.4 billion for near-term credit losses. BofA still holds nearly $70 billion in "key capital-markets risk exposures" from Merrill Lynch, like super-senior collateralized debt obligations, or CDOs, and credit default swaps, or CDS.

Though none besides the chairman-CEO split were approved, some other shareholder proposals touched on hot-button issues and received relatively strong support. A proposal for special stockholder meetings received 49.4% of votes in favor, an executive compensation advisory proposal won 40.1% in favor, a cumulative voting proposal won 37.8%, a proposal on predatory credit card practices won 33.4% and a proposal on limiting executive compensation won 26.8%.

By comparison, a proposal on disclosure of government employment garnered just 7.8% of votes in favor, and one on health-care reform received just 7.5% of votes in support.

Staff reporter Ted Reed in Charlotte, N.C. contributed to this report.

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