SAN FRANCISCO - April 28, 2010
Stockholders of Wells Fargo & Company (NYSE: WFC) yesterday elected 16 nominees to the Company’s board of directors and ratified the appointment of KPMG LLP as the Company’s independent auditor for 2010. Stockholders also approved the compensation of the Company’s executives named in its proxy statement, and an amendment to the Certificate of Incorporation to increase the Company’s authorized shares of common stock.
Stockholders did not approve a proposal to adopt a policy to provide shareholders an annual advisory vote on executive and director compensation or a proposal to require the chairman of the board to be an independent director. Stockholders also did not approve proposals requesting the Company to provide a report on charitable contributions or a proposal to provide a semi-annual report on the Company’s political contributions and expenditures.
The 16 nominees elected to the Wells Fargo Board are:
John D. Baker II, president and CEO of Patriot Transportation Holding, Inc, Jacksonville, Fla.;
John S. Chen, chairman, president and CEO of Sybase, Inc., Dublin, Calif.;
Lloyd H. Dean, president and CEO of Catholic Healthcare West, San Francisco, Calif.;
Susan E. Engel, CEO of Portero, Inc., Armonk, N.Y.;
Enrique Hernandez, Jr., chairman, president and CEO of Inter-Con Security Systems, Inc., Pasadena, Calif.;
Donald M. James, chairman and CEO of Vulcan Materials Company, Birmingham, Ala.;
Richard D. McCormick, chairman emeritus of US WEST, Inc., Denver, Colo.;
Mackey J. McDonald, retired chairman and CEO of VF Corporation, Greensboro, N.C.;
Cynthia H. Milligan, dean emeritus of the College of Business Administration at the University of Nebraska-Lincoln;
Nicholas G. Moore, retired global chairman of PricewaterhouseCoopers, N.Y.;
Philip J. Quigley, retired chairman, president and CEO of Pacific Telesis Group, San Francisco, Calif.;
Judith M. Runstad, of counsel to Foster Pepper PLLC, Seattle, Wash.;
Stephen W. Sanger, retired chairman and CEO of General Mills, Inc., Minneapolis, Minn.;
Robert K. Steel, former president and CEO of Wachovia Corporation, Charlotte, N.C.;
John G. Stumpf, chairman, president and CEO of Wells Fargo; and
Susan G. Swenson, president and CEO of Sage Software –North America, Irvine, Calif.
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 stores and 12,000 ATMs and the Internet (wellsfargo.com) across North America and internationally.