Wells Fargo's interim CEO may remain in place - Reuters

Jun. 05, 2019 6:07 PM ETWells Fargo & Company (WFC)WFCBy: Carl Surran, SA News Editor36 Comments
  • Wells Fargo's (NYSE:WFC) board is considering keeping interim CEO Allen Parker in the job permanently after previously saying it would seek an outsider to fill the position, Reuters reports, citing sources familiar with the board's thinking.
  • The board had set a goal of hiring an outsider after Tim Sloan stepped down in March, but the search has been complicated by concerns WFC could not pay the big dollars necessary to lure talent from competing banks, according to the report.
  • Board members are said to have warmed up to the possibility of keeping Parker after he made a good impression on regulators, investors and employees; also, Parker joined WFC in 2017 - the year after customer abuses first emerged - and thus has not been tainted by the scandals surrounding the bank.

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