Charlie accepted the new job as CEO of Wells Fargo. He has great plans to make Wells Fargo the most admired and respected bank in the USA, again. Let us give him the chance to do so. Stop with all the negatives from his former banking positions. Those were other companies with other issues to resolve.
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Most Wells Fargo people don’t read this site or have an opinion about him one way or the other. They were worried about lay-offs before and they’re worried about lay-offs now. That wouldn’t change regardless of who they finally got to take the CEO job.
Looks like Charlie is starting out with some very negative impressions of him and Wells Fargo to overcome.
Someone seriously has an ax to grind. I'm guessing you were severed and are now disgruntled. Why else would anyone spend so much time trolling?
I guess you literally have nothing better to do.
To 2quq,
You are delusional. Wells Fargo absolutely has the worst employees overall in the industry and it is a direct result of the toxic culture. Sales practice scandal ripped the shroud off and exposed it. Go to any industry event and you will hear it. Wells does not attract top talent and keeps deadwood. Why do you think it took so long to find a CEO?
This bank is ripe for sale or to be broken up and made smaller. It is too big and too toxic to fix,
There is a troll on here who posts ugly comments about WF employees on just about every thread to get attention. Pay it no mind.
To the person who said "wells fargo has the worst employees". That's just ridiculous. There are people at Wells Fargo who are talented and try every day to do their very best for the customer. That doesn't mean there aren't bad seeds or bad leadership. But in my few years there, I have come into contact with some wonderful people. They are often frustrated or stymied by things out of their control, but are by no means the worst. And anyway, a lot of people working at bank almost always worked at a competitor, not everyone started their career at WF and stayed there for life. Just like at every bank, there are crummy dead weight people, but that is not everyone. Cut me a break.
Charlie is a one trick pony who will cut to a target percentage, period. Absolutely nothing in his history indicates that he will “target the trash” or make Wells “the most admired and respected bank in the USA”. He is a job cutting machine and attempting to target trash would slow him down.
Wells Fargo has the worst employees in the banking industry & Charlie knows it. He is here to remove the trash from this bloated POS.
Based on his composition package alone he's already won.
He doesn't need to turn anything around, just dance until he vests.
This is most definitely a win-win for Charlie. If he turns Wells Fargo around he’ll be one of the most respected people in the industry. If he doesn’t, well, the rot runs deep. He won’t be held accountable for anything.
Wells Fargo will never be an admired and respected bank. With so much corruption and incompetence so endemic to the core they are the new Merrill Lynch. Their long term future is as a minor brand hanging off of a huge multinational bank. That’s the way it works with this level of corruption and not one honest person to raise it.
Has Charlie found his unicorn in WF? Things are already so bad that, no matter what he does, he can't make it a worse company.
Whatever good reputation Wells Fargo had was based on lies, cooked books, and fake accounts.
They will never regain that luster, and there’s nothing a new figurehead can do about it. Sure, he can cut expenses by cutting people and make a few quarters look good short term.
But that’s it.
Wells Fargo is tarnished brand. It will never recover. Four CEOs in as many years, no one can fix this company. I hope he chops heads everywhere. This company needs an earthshaking change and it starts with letting thousands of people go who are WF lifers. I have seen a lot of deadwood get their 25?year certificates (in Iowa). Time to go work somewhere else.
So you are either a Charlie want to be or a senior leader. How do you know what his plans are. The first town hall hasn’t even happened yet.
Great plans...yea ok and so did everyone else. What happened with them? The regulators ate them for breakfast and they took the golden parachute and left.
Charlie...the I want more money and refuse to relocate and want a car with driver and my buddies to come along...our board ate that sh@t up and said yes. Why, cause no one else wanted the stinking job.
Charlie is known in this industry as a head chopper period. Research him. He walks in, talks his c-ap, cuts headcount and leaves. Two years max and he’ll be done. Our board will be in the same position it’s in now. A bunch of yes people that’s it.