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
Tech giant Apple Inc. (AAPL) is reportedly planning to begin assembling a new low-cost iPhone 9 in February. According to Bloomberg, the Cupertino, California-based company is expected to officially unveil the new phone as early as March. The assembly work for the new handset will be split among Taiwan-based... A Louisville, Kentucky-based franchise of Wendy's and Fazoli's restaurants, was ordered by the federal government to pay a civil penalty of $157,114 for violating child labor laws. The U.S. Department of Labor's Wage and Hour Division or WHD said its investigation found that Manna Inc. violated child labor requirements of the Fair Labor Standards Act at 99 Wendy's and Fazoli's restaurants. Tesla's market capitalization briefly crept up the $100 billion mark in extended trading on Tuesday, making it the first publicly-listed automaker in the U.S. to achieve the feat. Tesla's stock gained 7.2 percent to close Tuesday's regular trading session at $547.20, and rose to $555 in after-hours trading, pushing the luxury electric car maker's market valuation to more than $100 billion.
RELATED NEWS
Follow RTT
>