Yes now I admit that, if the reason for which I disregarded "Former" in the first instance, is indeed what the sentence wants to convey then B can be correct.. (See my first post)
However, I can owe it to my ignorance of the fact that one can be addressed as.. "
Mr. XYZ has been a former President for three consecutive years"
It sounded awkward and still does to me, but at the end of it, if it earns me correct answer, then what the heck? Yeah its right!! and moreover I learned something new

, although I would like to wait for the OA ..
However, I'm still not convinced with the way you culled out
E.
If you can put it as:
Janna,
as the former Chancellor of Stanford University for three consecutive years and a committee member for five years, attended more than 40 meetings and reviewed more than 70 rezoning applications.
I can put it as:
Janna attended more than 40 meetings and reviewed more than 70 rezoning applications,
as the Chancellor of Stanford University for three consecutive years and a committee member for five years.
which I guess is correct unless someone argues that it is plagued by a parallelism error.
Wheres GMATT btw.. What time is it in Japan?