SKIP TO SITE NAVIGATION  |  SWITCH TO GRAPHICAL VERSION

First Union and Wachovia

Media Contact:   Mary Eshet (704) 383-7777 Media Contact:   Christy Phillips Brown (704) 383-8178 Investor Contact:   Alice Lehman (704) 374-4139 February 18, 2003 WACHOVIA CORPORATION CHAIRMAN L.M. BAKER, JR., ANNOUNCES RETIREMENT; G. KENNEDY THOMPSON TO SUCCEED BAKER CHARLOTTE, N.C. - Wachovia Corporation (NYSE:WB) today announced that L.M. Baker, Jr., will retire as Chairman of the Board effective today. Wachovia's board has elected Ken Thompson to succeed him, retaining the titles of President and Chief Executive Officer. Baker said, "It has been a supreme honor to work with the people of Wachovia and most recently it has been exciting and rewarding to be part of the merger integration, which has been flawless. I believe this will set the standard by which other combinations will be judged." "Bud Baker has been an outstanding leader for Wachovia Corporation and will be greatly missed by the board and the entire Wachovia community," said Thompson. Wachovia Corporation (NYSE:WB), created through the Sept. 1, 2001, merger of First Union and Wachovia, had assets of $342 billion and stockholders' equity of $32 billion at Dec. 31, 2002. Wachovia is a leading provider of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 48 of the 50 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services are available through www.wachovia.com. 2002 First Union and Wachovia Merger Press Releases 2001 First Union and Wachovia Merger Press Releases Email this article About Wachovia Customer Service About Wachovia Contacts About Wachovia FAQs Site Map Search Navigation About Wachovia Section Navigation Company Information News Room Doing Business with Wachovia Community Involvement Careers Investor Relations Diversity at Wachovia Merger Information Golden West Westcorp SouthTrust Prudential Securities First Union and Wachovia (current) About Wachovia Customer Service Main Sections of the Site Personal Finance Small Business Corporate & Institutional Wealth Management About Wachovia (current) Customer Service Search Search Privacy and Security | Legal | Careers | About Wachovia © 2008 Wachovia Corporation. All rights reserved.