Wells Fargo & Company has elected Wayne Hewett to its board of directors. He will serve on the board’s human resources committee, as well as its risk committee.

Wells Fargo also announced that Karen Peetz has decided that she will not stand for re-election and will retire as a director at the company’s 2019 Annual Meeting of Shareholders, which is scheduled to be held on April 23, 2019. "The decision by Peetz to retire reflects her desire to devote more time to other commitments and activities," the company stated.

Hewett is a seasoned executive who has worked in a number of industries in senior leadership positions. Since March 2018, Hewett has served as an advisor to Permira, a global private equity firm, and chairman of DiversiTech, a manufacturer and supplier of components and related products for the heating, ventilating, air conditioning, and refrigeration industry. From 2015 to 2017, he was CEO of Klöckner Pentaplast Group, a global supplier of packaging for various industries, including pharmaceutical, medical devices, food, and electronics. Previously, he was CEO of Arysta LifeScience after spending more than 20 years with General Electric.

He currently serves on the board of directors of The Home Depot, where he is a member of its audit committee and its leadership development and compensation committee.