New independent directors join Wells Fargo board

The Wells Fargo & Company board of directors has elected banking industry professionals Karen Peetz and Ronald Sargent as new independent directors.
Peetz, the retired president of The Bank of New York, brings 35 years of experience to the Wells Fargo board. She will serve on the Finance and Human Resources committees.
Sargent, the retired chairman and CEO of Staples Inc., spent more than 27 years at the company in a variety of leadership positions. Before joining Staples, he spent 10 years at The Kroger Co. He will serve on the Governance and Nominating Committee as well as the Human Resources Committee.
“We are very pleased to add these two exceptional leaders to our board," Chairman of the Board Stephen Sanger said. "Karen will provide particular expertise in financial services, client services, and regulatory matters, while Ron brings deep experience in consumer retail and marketing, as well as in the management of a large workforce serving customers globally through a variety of channels. These new perspectives will make an important contribution to the Board’s oversight of Wells Fargo and help ensure that we continue to move in the right direction to restore the trust of our customers and create value for our shareholders.”