It's the latest obstacle in Bank of America's search to replace Ken Lewis, who in late September announced plans to step down.
Bank of America's board last week didn't reach its goal of announcing a new CEO by Thanksgiving.
A spokesman last week said the CEO search committee would make a decision in the near future, after Bank of America let pass the third target date it set to find a new CEO since Lewis' announcement.The Wall Street Journal reports Bank of America spokesman Robert Stickler reiterated his comments from last week, saying the bank was "still considering internal and external candidates" and seeks to have a decision soon. The CEO candidates who have questioned the size and scope of Bank of America include Michael O'Neill, a Citigroup (C) director and former CEO of Bank of Hawaii, the Journal reports, citing people familiar with the discussions. O'Neill told the Bank of America search committee that the bank's risk-adjusted capital wasn't being used productively, adding Bank of America should become simpler and less prone to volatility, the Journal reports. Another CEO candidate told the board it should look seriously at its business plan and consider the possibility of shedding certain operations, according to the Journal. -- Reported by Joseph Woelfel in New York . Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV