Karen Peetz to Chair Risk Committee
Donald James to Chair Governance and Nominating Committee
Other Changes in Committee Composition
Three Long-Serving Directors to Retire from Board at Year-End
Expects to Name Up to Three More Independent Directors Before 2018 Annual Meeting.
Wells Fargo & Company (NYSE:WFC) today announced that its Board of Directors has taken a range of Board refreshment actions, including naming Elizabeth A. “Betsy” Duke to succeed Stephen W. Sanger as independent Chair, effective January 1, 2018; having three long-serving directors (including Sanger) retire at year-end 2017; and adding a new independent director and changing the composition of Board committees, both effective September 1, 2017.
The actions announced today are in addition to the appointment earlier this year of two new independent directors, Karen B. Peetz and Ronald L. Sargent. The Board expects to name up to three additional independent directors before the 2018 Annual Meeting.
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