Bank of America Corp. Chairman Charles K. Gifford will retire starting Jan. 31. although keeping his seat on the BoA’s board. Mr. Gifford, 62, joined the company in the wake of a merger with FleetBoston where he used to be chief executive. At the moment the management reports that the Bank of America/FleetBoston merger execution is proceeding ahead of schedule.

Mr. Gifford became chief executive of FleetBoston on Dec. 31, 2001 and chairman of the company a year later.
As Bank of America Corp. Chairman, Mr. Gifford will be succeeded by President and Chief Executive Officer Kenneth D. Lewis.