Bank of America Corp. chief executive Kenneth D. Lewis' compensation fell 3% last year, to $22 million, according to a securities filing.
Mr. Lewis' salary was unchanged at $1.5 million, but his bonus fell 1%, to $5.65 million. Mr. Lewis, who is also B of A's chairman and president, received restricted stock and options worth about $14.63 million, the $1.3 trillion-asset company said in its annual proxy statement filed Monday with the Securities and Exchange Commission.
Alvaro G. de Molina, who was promoted to chief financial officer in September, received compensation of $8.7 million, including a $700,000 salary and a $3.05 million bonus. He also got restricted stock and options valued at $4.72 million.
B of A shares gained 2.4% last year and its profits grew 19.4%.
The Charlotte company announced Monday that Monica Lozano, the publisher of the nation's largest Spanish-language newspaper, La Opinion, had been nominated for its board of directors.
Ms. Lozano, 49, is also the CEO of La Opinion in Los Angeles and a senior vice president of Impremedia LLC, a New York newspaper company. B of A said shareholders will vote on Ms. Lozano's nomination at its April 26 annual meeting.
The company said two of its directors, Edward L. Romero, a former U.S. ambassador to Spain, and Charles W. Coker, the chairman of Sonoco Products Co., have reached B of A's mandatory retirement age of 72. The board will have 18 members after the changes.
