Bank of America's CEO Search may go to Thanksgiving as Board is Divided (BAC)

11/6/2009-According to a report from the New York Post, Bank of America (NYSE:BAC) may be having issues filling its CEO position, and it may not be decided until Thanksgiving.

The report, which cites unnamed sources familiar with the matter, indicates that BofA's board is split on whether to tap outside talent or search within the company.

However, unsurprisingly the biggest problem isn't the factions growing among board members, it is the lack of interest that potential suitors for the job are showing.

The report indicates that one exec, who was "courted by the bank and rejected it," said that BofA's chances of bringing in outside talent was unlikely since it was under Uncle Sam's control after having borrowed $45 billion in taxpayer funds.

Furthermore, the bank is being harassed by Capitol Hill and Wall Street regulators over its forced merger with Merrill Lynch.

Write to Chip Brian at cbrian@tradethetrend.com

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