logo
Plus   Neg
Share
Email

Wells Fargo CEO Timothy Sloan Steps Down

Wells Fargo & Company (WFC) announced that its Chief Executive Officer and President Timothy Sloan has decided to retire from the Company, effective June 30, 2019, and to step down as CEO, president, and Board member effective immediately.

The Board has elected Allen Parker, who served as the Company's General Counsel, as interim CEO and President (and member of the Board), effective immediately.

The company stated that an external search process will now begin for the company's new CEO and President.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
Follow RTT