Wells Fargo CEO Tim Sloan steps down

Wells Fargo (NYSE: WFC) said Thursday that Tim Sloan will retire at the end of June, but is stepping down immediately as CEO, president and board member. 

The board named General Counsel Allen Parker as interim CEO and president, while the bank begins a search for a long-term CEO.

Sloan’s departure after more than 30 years with the bank marks the end of an era for the San Francisco-based bank that’s been rocked by a series of scandals that first came to light in 2016.

“Tim Sloan has served…

Source: The Business Journal