Bank of America appointed Jim Fitterling and Bill Thomas to its board of directors with immediate effect on 21 October. Fitterling is executive chairman and former chief executive of Dow. Thomas was global chairman and chief executive of KPMG International. The appointments add industrial operations, audit and financial reporting experience to the bank’s governing body.
Reuters reported that the two directors replaced Pierre de Weck and Linda Hudson, who retired earlier in 2026 after reaching the board’s retirement age of 75. Bank of America described the appointments as part of its board succession and refreshment process. Its updated governance pages list both executives as directors from October 2026 and set out their committee assignments.
EXPERIENCE AND COMMITTEE ROLES
Fitterling led Dow as chief executive from 2018 until July 2026, when he became executive chairman. He has more than 40 years of experience at the materials group and is lead independent director of 3M. Bank of America assigned him to its Compensation and Human Capital Committee and Enterprise Risk Committee.
Thomas led KPMG International from 2017 to 2026, overseeing a network of 265,000 professionals across 143 countries, according to the bank. His background covers audit, accounting, financial reporting and cross-border operations. He joined Bank of America’s Audit Committee and Corporate Governance Committee.
BOARD OVERSIGHT
The appointments broaden the board’s experience in operational resilience, risk management and technology-led business change. Bank of America said the complementary backgrounds would strengthen oversight of long-term strategy, while the committee placements direct that expertise towards financial controls, governance, risk and people matters.
Both appointments took effect immediately, so the disclosed committee assignments now define their initial responsibilities. Investors can next assess the enlarged board through the bank’s 2027 proxy materials and annual-meeting disclosures, including any further changes to nominations or committee membership.