It’s been more than a turbulent year, and honestly, I’m surprised that TS got it to the end of the year in the CEO chair. All facts point to 2019 being even more turbulent and I was hoping to get some opinions on how long do you think this will go on, what’s gonna be the outcome, and how long do you see TS sitting in the CEO chair.
https://www.bloomberg.com/news/articles/2018-12-27/wells-fargo-ceo-survives-to-2019-as-scandals-burn-through-ranks
Who is the "she" you're referring too?
Here is a puzzling thought. When the sales scandal broke they got rid of the executive at the head of the group and the CEO. They recently got rid of the CAO and Chief Auditor. The Chief Risk Officer resigned. However, since the sales scandal there have been big fines due to bad behavior in mortgage, car loans, insurance and the executive who all this happened under is still there...she was given a new job, big bonus, raise, but TS has not fired her …….and she racked up even more in fines than the sales scandal. ….So Why is she still there? Many wonder.
Fires 25,000 people, moves 25,000 jobs overseas, sells off a few non-core businesses, disbands the marketing department and outsources the advertising to the Phillipines, blames any new scandal eruptions on already-departed underlings, freezes salaries, halves the company 401k match and gives himself another 30% raise.
Heart attack in 2019 then burns in hell.
For his part, Sloan, 58, said he’s prepared to stay until he reaches Wells Fargo’s retirement age of 65.
No kidding?? I'd stick around too for $17.4mil a year.