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BRIEF-Connecticut treasurer wants Wells Fargo to have independent, non-exec board chair
November 29, 2016 / 2:56 PM / a year ago

BRIEF-Connecticut treasurer wants Wells Fargo to have independent, non-exec board chair

Nov 29 (Reuters) - Connecticut Treasurer Calls On Wells Fargo & Co

* To change bylaws to require an independent, non-executive board chair

* The treasurer, denise nappier, says she has filed shareholder resolution for bylaw change, in partnership with three institutional investors

* Investors demanding the change include the connecticut retirement plans and trust funds, illinois’ state treasurer, the needmor fund and hermes eos

* Nappier says having a combined ceo/chair creates potential conflict of interest, excessive management influence on board, weaker oversight

* Nappier says she has asked wells fargo’s new chairman sanger for meeting to discuss other ways to bolster oversight, accountability

* Further company coverage: (Reporting by Jonathan Stempel)

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