Wells Fargo has promoted Stephen Sanger to the role of lead director on its board of directors, a position he acquired on 1 January.

Sanger has served as a director since 2003 and now takes over from Philip Quigley, who held the role of lead director since January 2009, and who continues to serve as a director on the board.

Sanger is a former chairman, chief executive and director of Minneapolis-based food company General Mills and has significant corporate governance and executive compensation experience, Wells said in a statement.

The bank created the lead director position in 2009. The role of lead director is to work with the chairman and, among other duties, approve board meeting agendas and schedules and attend executive sessions and meetings of the independent directors.

Additionally, Sanger will remain on the firm’s human resources committee, of which he served as chair for eight years. Lloyd Dean now chairs that committee and Sanger has succeeded Quigley as chair of the governance and nominating committee.