Allen Parker is out!
6 replies (most recent on top)
I think anyone there from the past will be forced out
It’s very common for an interim CEO to leave when the permanent one comes in. It’s messy and confusing to the organization to have the interim stick around or go back to previous responsibilities.
Parker may have thought he would get the CEO job and decided to leave when he didn't.
It's also possible that this is a trend that will continue in an effort to fundamentally change the culture of the company.
Or maybe having to pay USAA $200 million for patent infringement cost him his job. Legal is responsible for keeping the company out of that type of trouble and also for settling a case before it gets this far if they fail to stop the problem before it starts.
Lots of options for why.
Agreed - less than a month ago he said he was transitioning back to General Counsel... quite a coincidence that Charlie is announcing this so soon after he stepped in... and why would you do it 5 months in advance - and why aren’t they giving the role to Edwards, the guy who was interim GC when Allen was interim CEO? The whole thing raises eyebrows.
https://www.euronews.com/2019/11/14/wells-fargo-former-interim-ceo-allen-parker-to-step-down-as-general-counsel
Forced Out? Seems too much of a coincidence that the new guy (Charlie) comes in and Parker is out? Charlie does not like Parker?