Bank of America 2000 Annual Report Download - page 8

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Honored by Minority MBA
magazine as one of the
nation's top 10 companies
for corporate diversity and
opportunities for MBA
professionals of color.
Named best supplier of
banking services to small
business by Small Business
Computing magazine.
Named Large Employer
of the Year by Goodwill
Industries.
®
coveted United Way Spirit of America Award, having excelled in all four major award cate-
gories: corporate contributions, employee campaigns, major gifts and volunteer programs.
I often have said that while a company’s highest priority must be achieving financial
results, its reason for being must be something quite different. People, after all, deter-
mine the ultimate success or failure of any organization, and people are seldom inspired
to greatness solely by means of material reward. Rather, we inspire hard work, determi-
nation, innovation and loyalty by building a company people believe in and care about.
And that means building a company that takes care of all its stakeholders: shareholders,
customers, associates and communities.
In other words, while companies are frequently described in terms of the numbers
they generate – assets, revenue, net income or market capitalization – these numbers fail
to paint the full picture of the people who come together in an enterprise, day-in and
day-out, to work toward shared goals. In this regard, we view community development
activities, associate programs and philanthropy as part of the cultural foundation upon
which the company and its future success must be built. This is the legacy our past lead-
ers left to my stewardship, and it’s a legacy I am proud to pass on to my successors.
At the January 2001 meeting of the board, our directors unanimously chose Ken
Lewis to lead our company. Ken is a proven leader with tremendous management skill
and a strong vision for what Bank of America can become in the future. He inspires
the trust of his teammates, and will undoubtedly lead this company to overcome great
challenges and achieve great successes. Ken is supported by an outstanding executive
management team, which will work directly with him to lead our company.
I would like to congratulate Ken, and express the confidence I have in all our leaders
and their ability to fulfill our vision for Bank of America. I also would like to thank the
members of our board – in particular, Sol Trujillo, who retired from the board last year –
for their service and guidance. You all have my sincere gratitude.
As I prepare to bring my 41-year career here to a close, our company faces a new
beginning, even as the challenges to success have never been greater. However, with a
clear vision, plentiful resources, strong leadership and the best people in the industry,
I know the future will be bright.
In closing, I would like to thank all of you for your support over the many years
I have had the privilege to occupy this position. And, as always, I welcome your thoughts
and suggestions.
Hugh L. McColl, Jr.
Chairman and Chief Executive Officer
January 25, 2001