Bank of America Corporation Board of Directors appointed Arnold Donald, a former chairman and chief executive officer of Merisant Co., and Lionel L. Nowell III, a former treasurer of PepsiCo Inc., as new directors. The appointments are effective immediately. Donald is an investor and management consultant operating through his private firm, AWD Group Plc, LLC.

He previously served as president and chief executive officer of The Executive Leadership Council. Previously he was president and CEO of the Juvenile Diabetes Research Foundation International. From 2000 to 2003, Donald served as chairman and CEO of Merisant and chairman until 2005.

Nowell served as treasurer of PepsiCo from 2001 to 2009. Previously he served as chief financial officer of The Pepsi Bottling Group, a position he assumed in 2000, and was PepsiCo's controller before joining Pepsi Bottling. He joined PepsiCo from RJR Nabisco Inc., where he was a Strategy and Business Development executive.

Prior to joining RJR Nabisco, Nowell held various senior financial roles at the Pillsbury division of Diageo Plc, including chief financial officer of its Pillsbury North America, Pillsbury Foodservice and Haagen-Dazs divisions. He also served as controller of the Pillsbury Company and was vice president of internal audit. Before Pillsbury, Nowell spent eight years as a finance executive at Pizza Hut.