TITLE

Wells Dodges Clashes with Regulators, Shareholders in Chair-CEO Split

AUTHOR(S)
Broughton, Kristin
PUB. DATE
December 2016
SOURCE
American Banker;12/2/2016, Vol. 181 Issue 231, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses amendments to the Wells Fargo bylaws on separating functions of the chief executive officer (CEO) and chairman after the phony-accounts scandal. Topics covered include the resignation of CEO John Stumpf due to allegations of misconduct, appointment Tim Sloan as CEO and Stephen Sanger as chairman to avoid pressure from regulators. Also mentioned are Office of the Comptroller of the Currency (OCC) restrictions on golden parachutes at Wells Fargo and fake accounts lawsuits.
ACCESSION #
119859870

 

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