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Wells Fargo Separates Chairman, CEO Roles Formally After Scandal

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Friday, 2 December 2016 ()

Bank holding company Wells Fargo & Co., amid struggles to re-establish itself after the fake-account scandal, on Thursday said it has separated the roles of the Chairman and Chief Executive Officer formally, by amending the company's By-Laws. The amendment is also for the Chairman and Vice Chairman of the Board to be independent directors. The amendments were effective immediately.
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Source: Wochit Business - < > Embed

News video: Investors Call for Independent Board Chair at Wells Fargo

Investors Call for Independent Board Chair at Wells Fargo 00:49

Investors are calling on Wells Fargo to require an independent board chair in the wake of a scandal related to fraud. The investors, including the state treasurers of Connecticut and Illinois, have already filed a shareholder resolution for the bank's annual meeting seeking to change company bylaws....

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