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Wells Fargo Slams Former Bosses’ High-Pressure Sales Tactics
A new report on the sales scandal at Wells Fargo & Co. portrayed its former chief executive as a tone-deaf leader who protected an irresponsible lieutenant and worked for board members who didn’t keep the pair in check.
The report, a long-awaited investigation of a scandal that ensnared the bank with regulators and politicians this past September, also said Wells Fargo’s board will claw back an additional $75 million in pay from former Chief Executive John Stumpf and the lieutenant, former retail-bank chief Carrie Tolstedt.
