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
A new research has found unusual increase in malware, as cyber criminals find new avenues to attack. WatchGuard Technologies on Tuesday released its quarterly Internet Security Report for first quarter. The report says malware detections in the first quarter surged a massive 62% from previous quarter. The... A study has suggested that the risk of dementia is stronger in older adults on the use of anticholinergic drugs, highlighting the importance of reducing exposure to anticholinergic drugs in middle-aged and older people. Anticholinergic drugs work by blocking the action of a neurotransmitter called acetylcholine. This inhibits nerve impulses responsible for involuntary muscle movements. Norway's $1 trillion sovereign wealth fund, the world's largest, has been given the approval to invest again in retail giant Walmart Inc. and miner Rio Tinto plc, among other companies. This follows the Norway central bank's decision to revoke these companies' exclusions from the fund's investments on ethical grounds. Walmart was excluded in 2006 from the pension fund's investments.
Follow RTT