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Battle lines are being drawn ahead of a decision on Bank of America's leadership

Sep 3, 2015, 03:23 IST

That move rankled with some shareholders, stock analysts and corporate governance specialists. 

CalPERS will always vote against the CEO-Chairman combo.CalPERS documents

The Oracle of Omaha, according to a representative for Berkshire, is "100% in support of Mr. Moynihan and believes he is doing an outstanding job for Bank of America shareholders." 

"When he took over as CEO, he was handed one of the toughest jobs in the history of American banking." 

"No company has dug out deeper since the financial crisis, turned back to health with solid earnings, and has accumulated record levels of capital and liquidity - also to the benefit of our shareholders.  The  board respectfully  recognizes that stockholders hold varying views on this matter, which is why the board committed to putting it to a vote."

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