Bank of America added Jim Fitterling, Dow Inc.’s executive chairman, and Bill Thomas, KPMG International’s former global chairman and chief executive, to its board, lifting membership to 14 from 12.
The appointments took effect Oct. 21, according to the bank’s Form 8-K. Fitterling joined the Enterprise Risk Committee and the Compensation and Human Capital Committee. Thomas joined the Audit Committee and the Corporate Governance Committee, placing the new directors across four areas of board oversight.
Fitterling, 65, led Dow as chief executive from July 2018 through July 2026, when he became executive chairman. He was elected Dow’s board chair in 2020. Bank of America also noted that he has served on 3M’s board since 2021 and became its lead director in 2024.
Thomas, 58, led KPMG International from 2017 through 2026. Bank of America said KPMG had 265,000 professionals in 143 countries during his tenure. Bank of America cited Fitterling’s public-company board service and said Thomas brings close to 40 years in audit, accounting and financial reporting.
The two directors will receive cash and restricted-stock awards under the bank’s nonemployee director compensation program. The awards will be prorated from Oct. 21 through the next annual shareholders’ meeting.
