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Wells Fargo is considering taking back some of CEO John Stumpf's compensation
Wells Fargo is considering taking back some of CEO John Stumpf's compensation
Bob BryanSep 27, 2016, 19:51 IST
Wells Fargo CEO Stumpf testifies before Senate Banking Committee hearing on firm's sales practices on Capitol Hill in WashingtonThomson Reuters
Wells Fargo's board of directors is leaning towards clawing back stock-based compensation from Wells Fargo CEO John Stumpf and former head of community banking Carrie Tolstedt, according to the Wall Street Journal.
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The nearly $50 million in stock-based compensation given to Tolstedt while she oversaw the division that created 2 million credit and debit card account for customers without their knowledge had come under fire recently, especially during Stumpf's testimony before the Senate Banking Committee.
