SACRAMENTO, Calif., March 19, 2013 /PRNewswire/ -- The Board of Directors of The McClatchy Company (NYSE:MNI) has nominated Clyde W. Ostler, a former executive with Wells Fargo & Company, as a director. Ostler will stand for election at McClatchy's 2013 annual meeting of shareholders.
S. Donley Ritchey, a McClatchy director since 1985 and chair of the board's audit committee, has announced his retirement following the annual meeting of shareholders.
"We're delighted that Clyde has agreed to be nominated to McClatchy's Board of Directors. McClatchy will benefit from Clyde's executive experience at a leading financial institution along with his service on numerous for-profit and not-for-profit boards," said McClatchy Chairman Kevin S. McClatchy.
"I also want to thank Don for his many contributions to the company over his nearly 28 years of service on the board," McClatchy continued. "Don has been a steadying influence as the company expanded across the United States and diversified into our growing digital and direct marketing businesses. Don's dedication and diligence helped McClatchy navigate a historically challenging economy and remain on sound financial footing. We wish him all the best in retirement."Ostler retired from Wells Fargo in 2011 as group executive vice president, vice chairman of Wells Fargo Bank California and president of Wells Fargo Family Wealth. Over his 40-year career with Wells Fargo, he served in a number of capacities, including vice chairman in the Office of the President, CFO, chief auditor, head of retail branch banking, head of information technology, head of institutional and personal investments and head of internet services. He was a member of Wells Fargo's management committee for more than 25 years. Ostler has extensive experience serving on the boards of public companies. He currently serves on the board of EXLService Holdings, Inc. and is a member of the advisory council of FTV Capital, a private global investment company. He is chairman of the Scripps Institution of Oceanography Directors' Advisory Council.