Elaine L. Chao Elected to the Board of Wells Fargo & Company

Wells Fargo & Company

today said that its board of directors has elected Elaine L. Chao, the former U. S. Secretary of Labor and the first Asian Pacific American woman to be appointed to a presidential cabinet, to the company's board of directors, effective July 1, 2011. Chao will serve on the board's Finance and Corporate Responsibility committees. Her election makes her the 15th director on the company's board. “Elaine Chao's distinguished career spans the public, private and non-profit sectors, giving her extensive experience in leading large, high-profile organizations operating in complex environments,” said John Stumpf, Wells Fargo's chairman and CEO. “This makes her a valuable addition to our board, someone who will play an important role as she joins us in continuing to guide the company through unprecedented regulatory and market challenges. Her election is good news for Wells Fargo's many stakeholders. ”