Wells Fargo Separates Chairman, CEO Roles Formally After Scandal
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.
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....
SAN FRANCISCO (dpa-AFX) - Wells Fargo & Company (WFC) announced that its Board has amended the Company's By-Laws to require the separation of the Chairman and... FinanzNachrichten.de - MarketsAlso reported by •bizjournals •Seattle Times •FT.com