Bank of America Board Appoints New Director

Charlotte, NC - 23 June 2016

The Bank of America Corporation board of directors today appointed Michael D. White as a director, effective immediately. White, 64, is the recently retired chairman, president and CEO of DIRECTV.

“Mike’s expertise leading consumer and technology businesses, working in regulated industries, his finance background, and his international perspective make him a great fit to help oversee the management team and the responsible growth approach to creating value for shareholders,” said Chairman and CEO Brian Moynihan.

“Mike is a proven leader who will further strengthen an already deep board,” said Lead Independent Director Jack Bovender.

White is an advisory partner for Trian Fund Management. He is the former CEO of PepsiCo International and former vice chairman and director of PepsiCo. His experience includes service as CEO of Frito-Lay’s Europe, Africa and Middle East division, and CFO for PepsiCo and certain of its subsidiaries. He is a former senior vice president for Avon Products, Inc., and a former management consultant for Bain & Company and Arthur Andersen & Co.

White received a master’s degree in international relations from Johns Hopkins University and a Bachelor of Arts in English and Russian from Boston College.

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