Press release from Business Wire
Wells Fargo Stockholders Elect Directors; Vote on Proposals at Annual Meeting
Tuesday, April 23, 2013
Wells Fargo Stockholders Elect Directors; Vote on Proposals at Annual Meeting13:00 EDT Tuesday, April 23, 2013
SALT LAKE CITY (Business Wire) -- Wells Fargo & Company (NYSE: WFC) announced today that its stockholders elected as directors the 14 nominees named in the company's proxy statement and ratified the appointment of KPMG LLP as the company's independent auditors for 2013. Stockholders also approved the 2012 compensation of the company's executives named in its proxy statement, and the amendment and restatement of the company's long-term incentive compensation plan.
Stockholders did not approve the two stockholder proposals presented at the meeting: a proposal requiring the chairman of the board to be an independent director and a proposal requesting an investigation and report on internal controls over the company's mortgage servicing and foreclosure practices. A stockholder proposal requesting a report on the company's lobbying policies and practices was withdrawn by the proponents prior to, and was not presented at the meeting.
The 14 nominees elected to the Wells Fargo Board are:
John D. Baker II, executive chairman of Patriot Transportation Holding, Inc.;
Elaine L. Chao, distinguished fellow at The Heritage Foundation;
John S. Chen, retired chairman and CEO of Sybase, Inc.;
Lloyd H. Dean, president and CEO of Dignity Health;
Susan E. Engel, CEO of Portero, Inc.;
Enrique Hernandez, Jr., chairman, president and CEO of Inter-Con Security Systems, Inc.;
Donald M. James, chairman and CEO of Vulcan Materials Co.;
Cynthia H. Milligan, dean emeritus of the College of Business Administration at the University of Nebraska-Lincoln;
Federico F. Peña, senior advisor of Vestar Capital Partners;
Howard V. Richardson, Retired Partner, PricewaterhouseCoopers LLP;
Judith M. Runstad, of counsel to Foster Pepper PLLC;
Stephen W. Sanger, retired chairman and CEO of General Mills, Inc.;
John G. Stumpf, chairman, president and CEO of Wells Fargo; and
Susan G. Swenson, retired president and CEO of Sage Software –North America.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune's 2012 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.
Wells Fargo & Company
Ancel Martinez, 415-222-3858
Jim Rowe, 415-396-8216