Mr. Sinacori is not yet in office - he is awaiting a background check - and the mayor is still filling two other board vacancies.

For example, Mr. Goodman said, it cannot fill board vacancies, fix compensation for board members or amend or repeal bylaws.

When board vacancies occur, trustees can be appointed by Fidelity.

His departure, which he said had long been planned, leaves another board vacancy in what has been a tumultuous period for the company.

Previous Nominations Last year, President Bush named David W. Mullins Jr., then an Assistant Treasury Secretary, to a board vacancy.

Although only about 15 percent of board vacancies at major corporations are filled by executive recruiters, some headhunting firms promote their ability to search for women directors.

But I think they're saying, 'We won't fill a board vacancy with an unqualified woman.'

A board vacancy was created in December by the retirement of William R. Cross Jr., president of the Jacob and Valeria Langeloth Foundation.

For example, a board vacancy would be filled temporarily by directors, not shareholders, it said.

Mr. Willse said the paper would seek "people with experience in managing difficult financial situation" to fill the board vacancies.