Bank of America said the move is effective immediately as several of the company’s directors are reaching retirement age and others’ terms are set to expire next spring.
Hudson elevated to CEO in 2009 and is the first female executive to run a major U.S. defense company.
She leads more than 40,000 employees and serves on the board of directors, as well as the company's executive committee.
Prior to becoming CEO, Hudson served as president of the land and armaments operating group.
The 40-year aerospace and defense industry veteran previously served as president of General Dynamics‘ armament and technical products unit.
Bank of America said other appointees include:
- Sharon Allen, former Deloitte LLP chairman
- Jack Bovender, former HCA Inc. chairman and CEO
- David Yost, former CEO of AmerisourceBergen Corp.