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Bank of America (NYSE: BAC ) announced that it has appointed a pair of directors to its board. Arnold Donald and Lionel Nowell will take up their new positions immediately.
Donald is currently an investor and management consultant and was previously the chairman and CEO of Merisant, a privately held manufacturer of food sweeteners. Before that, he worked for more than 20 years at Monsanto.
Newell was a long-serving executive at PepsiCo, where he most recently served as its treasurer from 2001 to 2009. Before PepsiCo, Newell worked in various finance executive capacities at comestibles giant RJR Nabisco.
The two appointments bring the bank's number of directors to 18, although several are expected to retire in the near future.