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(Image from article: "Shareholders Oust Bank of America Chief as Chairman")

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Morgan Stanley chairman John Mack to retire at end of 2011

Morgan Stanley’s chairman John Mack will step down as chairman and leave the board of directors at the end of 2011. The widely expected move brings an end to a storied Wall Street career for Mack. The North Carolina native was CEO of Morgan Stanley from 2005 to 2009. Current CEO James Gorman will take over the chairman’s role.

Shareholders Oust Bank of America Chief as Chairman

Shareholders stripped Kenneth D. Lewis of his chairman’s title in a vote that may mark the beginning of the end of his leadership at the embattled bank.

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