| Blogs > 1ClassyLady > U r responsible for ur life |
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Wells Fargo CEO John Stumpf to retire, effective immediately Wells Fargo CEO John Stumpf announced to retire, effective immediately. He won't receive any "severance payment" nor "retirement plan" nor "golden parachute" Wells Fargo COO, Tim Sloan, to replace John Stumpf as CEO. Wells Fargo has been criticized for the 2 millions fake accounts, fraudulent accounts scandal. The successor CEO, Tim Sloan said "I do feel sorry for Stumpt.", "must work together with disappointed hearing", "not aware of any criminal probes into stumpf". Honesty is the best policy. |
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Long time NOT heard from you, SF Harley Rider. I don't own any bank stock for many years. I have lots of bio-tech stocks currently. Bio-tech stocks are under tremendous pressure for many months. Wells Fargo bank is even backed by America's most beloved investor, Warren Buffett. The legendary billionaire owns $100 million of Wells Fargo (WFC) stock in his personal account, according to FactSet. His firm Berkshire Hathaway (BRKA) is the bank's biggest shareholder, holding nearly 10% of the stock. Honesty is the best policy.
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Take his money and give him jail time, then and only then will he understand!!! It too sends a message to the rest of such criminal types.
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Stumpf stepped down with shame. He put the sales pressure on those low level employees i.e. "New Account" and local branch managers to reach the impossible goal, so they created phony accounts, fraudulent accounts and credit card accounts. Those employees were making $14 - $15 per hour but Stumpf made millions. Honesty is the best policy.
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