Ken Lewis, Bank of America Chief, Gives Up Bonus

Ken Lewis, Bank of America Chief, Gives Up Bonus

Bank of America's chief executive, Kenneth D. Lewis, is joining the growing ranks of top banking executives who are giving up annual bonuses after a dreadful year in the financial industry.

Mr. Lewis told the bank's employees by e-mail Tuesday that he had recommended to the board that he and other senior executives receive no bonuses for 2008. He said he expected the recommendation to be accepted.

Mr. Lewis's decision comes less than a week after Citigroup's chief executive, Vikram S. Pandit, said he and the bank's chairman, Winfried F. W. Bischoff, would forgo their bonuses and slash the amounts paid to other senior executives by at least 40 percent.

Popular in the Community

Close

What's Hot