CEO of Wells Fargo John Stumpf leaving his post. He also resigns as Chairman of the Board of Directors of the Bank, writes The Wall Street Journal, citing an informed source.
The new CEO will become President and chief operating officer of Wells Fargo Timothy Sloan.
Chairman Stephen Sanger will chair the Board of Directors, and Elizabeth Duke will become Vice Chairman.
Earlier media reported that in case of his resignation CEO of Wells Fargo John Stumpf can get $123.6 million
