Wells Fargo Stockholders Elect 18 Nominees to Board of Directors; Kovacevich Succeeds Hazen as Chairman

Apr 24, 2001, 01:00 ET from Wells Fargo & Company

    SAN FRANCISCO, April 24 /PRNewswire Interactive Press Release/ --
 Stockholders of Wells Fargo & Company today elected 18 nominees to the
 Company's Board of Directors. President and CEO Dick Kovacevich assumed added
 responsibility as Chairman of the Board after the retirement of Paul Hazen,
 who completed more than three decades of service to the company.
     "The person who gets most of the credit for bringing the former Wells
 Fargo and Norwest Corporation together is Paul Hazen," said Kovacevich at
 today's annual stockholders meeting. "His integrity made for a great
 partnership and set the tone for the entire merger which is why it was a true
 merger of equals. As a result, our new company is more profitable, faster
 growing, more diversified, financially stronger, has more management talent,
 can better satisfy all our customers' needs, help them succeed financially and
 is a stronger competitor with more market share than either company was
 separately."
     The 18 nominees elected to the Wells Fargo Board:
 
     -- Leslie S. Biller, vice chairman and COO, Wells Fargo & Company,
        Los Angeles;
     -- J.A. Blanchard III, chairman and CEO, eFunds Corporation, Scottsdale,
        Ariz.;
     -- Michael R. Bowlin, retired chairman and CEO, Atlantic Richfield
        Company, Los Angeles;
     -- David A. Christensen, retired president and CEO, Raven Industries,
        Inc., Sioux Falls, S.D.;
     -- Spencer F. Eccles, chairman, Intermountain Banking Region, Well Fargo
        & Company, Salt Lake City;
     -- Susan Engel, chairwoman and CEO, Department 56, Inc., Eden Prairie,
        Minn.;
     -- Robert L. Joss, dean of the Graduate School of Business at Stanford
        University, Palo Alto, Calif.;
     -- Reatha Clark King, president, executive director, the General Mills
        Foundation, Minneapolis;
     -- Richard M. Kovacevich, chairman, president and CEO, Wells Fargo
        & Company;
     -- Richard D. McCormick, chairman emeritus, U.S. West, Inc., Englewood,
        Colo.;
     -- Cynthia H. Milligan, dean, College of Business Administration,
        University of Nebraska-Lincoln;
     -- Benjamin F. Montoya, retired chairman and CEO, Public Service Company
        of New Mexico, Albuquerque;
     -- Philip J. Quigley, retired chairman, president, CEO of Pacific Telesis
        Group, San Francisco;
     -- Donald B. Rice, president, CEO, UroGenesys, Inc., Santa Monica, Calif.;
     -- Judith M. Runstad, of counsel to Foster Pepper & Shefelman PLLC,
        Seattle;
     -- Susan G. Swenson, president and CEO, Leap Wireless International,
        San Diego;
     -- Chang-Lin Tien, University Professor Statewide Chair and NEC
        Distinguished Professor of Engineering Chair, University of California,
        Berkeley; and
     -- Michael W. Wright, chairman, president and CEO, SUPERVALU INC.,
        Minneapolis.
 
     Stockholders also approved a proposal to increase the number of shares of
 authorized common stock from 4 billion to 6 billion shares, approved the
 appointment of KPMG LLP as auditors, and voted against a stockholder proposal
 relating to cumulative voting for directors.
     Wells Fargo is a $280 billion diversified financial services company
 providing banking, insurance, investments, mortgage and consumer finance from
 more than 5,400 stores, the Internet (wellsfargo.com) and other distribution
 channels across North America and elsewhere internationally.
 
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SOURCE Wells Fargo & Company
    SAN FRANCISCO, April 24 /PRNewswire Interactive Press Release/ --
 Stockholders of Wells Fargo & Company today elected 18 nominees to the
 Company's Board of Directors. President and CEO Dick Kovacevich assumed added
 responsibility as Chairman of the Board after the retirement of Paul Hazen,
 who completed more than three decades of service to the company.
     "The person who gets most of the credit for bringing the former Wells
 Fargo and Norwest Corporation together is Paul Hazen," said Kovacevich at
 today's annual stockholders meeting. "His integrity made for a great
 partnership and set the tone for the entire merger which is why it was a true
 merger of equals. As a result, our new company is more profitable, faster
 growing, more diversified, financially stronger, has more management talent,
 can better satisfy all our customers' needs, help them succeed financially and
 is a stronger competitor with more market share than either company was
 separately."
     The 18 nominees elected to the Wells Fargo Board:
 
     -- Leslie S. Biller, vice chairman and COO, Wells Fargo & Company,
        Los Angeles;
     -- J.A. Blanchard III, chairman and CEO, eFunds Corporation, Scottsdale,
        Ariz.;
     -- Michael R. Bowlin, retired chairman and CEO, Atlantic Richfield
        Company, Los Angeles;
     -- David A. Christensen, retired president and CEO, Raven Industries,
        Inc., Sioux Falls, S.D.;
     -- Spencer F. Eccles, chairman, Intermountain Banking Region, Well Fargo
        & Company, Salt Lake City;
     -- Susan Engel, chairwoman and CEO, Department 56, Inc., Eden Prairie,
        Minn.;
     -- Robert L. Joss, dean of the Graduate School of Business at Stanford
        University, Palo Alto, Calif.;
     -- Reatha Clark King, president, executive director, the General Mills
        Foundation, Minneapolis;
     -- Richard M. Kovacevich, chairman, president and CEO, Wells Fargo
        & Company;
     -- Richard D. McCormick, chairman emeritus, U.S. West, Inc., Englewood,
        Colo.;
     -- Cynthia H. Milligan, dean, College of Business Administration,
        University of Nebraska-Lincoln;
     -- Benjamin F. Montoya, retired chairman and CEO, Public Service Company
        of New Mexico, Albuquerque;
     -- Philip J. Quigley, retired chairman, president, CEO of Pacific Telesis
        Group, San Francisco;
     -- Donald B. Rice, president, CEO, UroGenesys, Inc., Santa Monica, Calif.;
     -- Judith M. Runstad, of counsel to Foster Pepper & Shefelman PLLC,
        Seattle;
     -- Susan G. Swenson, president and CEO, Leap Wireless International,
        San Diego;
     -- Chang-Lin Tien, University Professor Statewide Chair and NEC
        Distinguished Professor of Engineering Chair, University of California,
        Berkeley; and
     -- Michael W. Wright, chairman, president and CEO, SUPERVALU INC.,
        Minneapolis.
 
     Stockholders also approved a proposal to increase the number of shares of
 authorized common stock from 4 billion to 6 billion shares, approved the
 appointment of KPMG LLP as auditors, and voted against a stockholder proposal
 relating to cumulative voting for directors.
     Wells Fargo is a $280 billion diversified financial services company
 providing banking, insurance, investments, mortgage and consumer finance from
 more than 5,400 stores, the Internet (wellsfargo.com) and other distribution
 channels across North America and elsewhere internationally.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X33123512
 
 SOURCE  Wells Fargo & Company