Bank of America Corporation announced on October 21, 2026, that it has increased the size of its Board of Directors from 12 to 14 members. The company appointed James Fitterling and William Thomas to the board, effective immediately.
James Fitterling, 65, is currently the Executive Chairman of Dow Inc. He previously served as Dow’s Chief Executive Officer from 2018 to 2026 and was elected Board Chair in 2020. Mr. Fitterling began his career at Dow more than 40 years ago and has served on the Board of Directors of 3M since 2021. On the Bank of America board, he has been appointed to serve on the Enterprise Risk Committee and the Compensation and Human Capital Committee.
William Thomas, 58, is the former Global Chairman and Chief Executive Officer of KPMG International Limited. He led the organization, which employs 265,000 professionals across 143 countries, from 2017 to 2026. Mr. Thomas has nearly four decades of experience in audit, accounting, and financial reporting. He has been appointed to the Audit Committee and the Corporate Governance Committee.
Bank of America Chair and Chief Executive Officer Brian Moynihan stated that the new directors bring complementary leadership experience and significant public company board credentials. The company noted that the appointments are part of its succession planning and board refreshment process.
Under the company’s non-employee director compensation program, both Mr. Fitterling and Mr. Thomas will receive restricted stock and cash awards. These awards will be granted on October 21, 2026, with amounts prorated from the date of appointment to the company’s next annual shareholders’ meeting.
