Vanguard has elected long-time Harvard Business School Professor Andre F. Perold as an independent member of its board of directors. Perold will begin serving at the end of December and also serve on the board of trustees of each of Vanguard's mutual funds.

At Harvard, Perold teaches courses in investment management and capital markets, specializing in research on the evolution of the investment management industry.

"Andre Perold is an outstanding addition to the boards of Vanguard and our funds," said Chairman and CEO John J. Brennan, the only non-independent member of the company's seven-trustee board. "[Perold's] experience, knowledge and insights as a distinguished academic, author and consultant will prove invaluable in his service to Vanguard fund shareholders."

The other six independent trustees, who collectively have 65 years of board experience in overseeing the Vanguard funds, are: Charles D. Ellis, Rajiv L. Gupta, JoAnn Heffernan Heisen, Burton G. Malkiel, Alfred M. Rankin, Jr. and J. Lawrence Wilson.

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