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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): January 25, 2000
WELLS FARGO & COMPANY
(Exact name of registrant as specified in its charter)
Delaware 001-2979 No. 41-0449260
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
420 Montgomery Street, San Francisco, California 94163
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 1-800-411-4932
Not applicable
(Former name or former address, if changed since last report)
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Item 5: OTHER EVENTS
Attached hereto as Exhibit 99 is the Press Release announcing the
retirement of Rod Jacobs as Vice Chairman and Chief Financial Officer
of Wells Fargo & Company and the appointment of Deputy Chief
Financial Officer Ross Kari as executive vice president and chief
financial officer of Wells Fargo & Company.
Item 7: FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99 Copy of Press Release announcing the retirement of Rod
Jacobs as Vice Chairman and Chief Financial Officer of
Wells Fargo & Company
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, on January 26, 2000.
WELLS FARGO & COMPANY
By: LES L. QUOCK
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Les L. Quock
Senior Vice President and Controller
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Exhibit 99
MEDIA INVESTORS
Larry Haeg Robert S. Strickland
415-396-3070 415-396-0523
WELLS FARGO VICE CHAIRMAN, CFO ROD JACOBS RETIRES AFTER 20 YEARS WITH COMPANY;
SUCCEEDED BY DEPUTY CFO ROSS KARI
SAN FRANCISCO, January 25, 2000 -- Wells Fargo & Company (NYSE: WFC) said today
that Vice Chairman and Chief Financial Officer Rod Jacobs has decided to retire
after a 20-year career with the company. He is succeeded by Deputy Chief
Financial Officer Ross Kari, who was appointed executive vice president and CFO
of Wells Fargo. Kari was CFO of the former Wells Fargo before its November 1998
merger of equals with the former Norwest Corporation.
"Rod had indicated a desire to retire several years ago but agreed to continue
with the company to complete Wells Fargo's integration with First Interstate,"
said Wells Fargo Chairman Paul Hazen. "After we announced the merger of equals
in June 1998 between Norwest Corporation and Wells Fargo, Rod again agreed to
continue in order to ensure a smooth transition for our merger integration. Now
that the integration is off to a very successful start and Y2K is behind us, Rod
believes the time is right for him to retire."
"In addition to the outstanding leadership he has provided during the first
successful stages of the Norwest and Wells Fargo integration, Rod has made very
significant contributions to our company over the years in capital management,
increased efficiency, operations, technology and overall corporate strategy and
direction, " said President and CEO Dick Kovacevich.
(more)
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2
"He was much more than a CFO. We'll miss his wisdom, intellect, interpersonal
skills, and business judgment. We're fortunate he'll be available this quarter
to help ensure a smooth transfer of responsibilities to Ross Kari, whose
experience as CFO of the former Wells Fargo makes him uniquely qualified to
succeed Rod."
Jacobs joined Wells Fargo in 1979 as a financial analyst and served in several
senior positions in finance before being elected vice chairman in 1991. He was
named president of the former Wells Fargo in May 1998. Before joining Wells
Fargo he was an engineer for seven years at Lockheed, earned a Ph.D. in
economics from Stanford and taught economics four years at UCLA.
"I owe a debt of gratitude to Wells Fargo for all the career opportunities I've
had with the company over the years" said Jacobs. "I owe a greater debt to all
the people with whom I've worked."
Kari joined Wells Fargo in 1983 as a financial analyst, was elected vice
president in 1987, senior vice president in 1990 and in 1992 was named head of
the company's telephone banking centers and ATM network. He was named general
auditor in 1995, was elected an executive vice president later that year, became
head of the finance group in 1997 and was named CFO of the former Wells Fargo in
May 1998. As CFO, Kari will be an executive officer of the company and a member
of the management group. He will report to Kovacevich.
Wells Fargo is a $218 billion diversified financial services company providing
banking, insurance, investment, mortgage and consumer finance from almost 6,000
stores, the Internet and other distribution channels across North America.
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