Wells Fargo Names Elizabeth Duke As Independent Board Chairwoman

Wells Fargo & Co. on Tuesday said its board named Elizabeth Duke as independent chairwoman to succeed Stephen Sanger who is retiring at the end of 2017 along with two other board members. The bank also plans to name up to three new directors ahead of the 2018 annual meeting. Duke's appointment comes as the bank continues its effort to restore its crediblity in the wake of an account fraud scandal last year. Shares of Wells Frago were flat in the extended session after closing at $52.85.