Wells Fargo CEO Tim Sloan steps down amid many scandals


Wells Fargo chief executive Tim Sloan is stepping down effective immediately. It comes after less than four years on the job. And of course, a wave of scandals a longtime insiders Sloan was chosen to replace outgoing CEO, John Stumpf who resigned after Wells Fargo fraudulently opened millions of accounts to meet sales goals. Jeff Sonnenfeld is the senior associate dean of the Yale school of management. He told CNBC sloan's escape goat who went down because of political pressure and the actions of John stop. It's really unfair Wilson as you know. This is coming right off of that great Warren Buffett endorsement of an hour and ten minutes ago that this I think it was a shock to many. I actually had been in touch with Tim through the weekend. We we're going to have him sit next week at our CEO. Right next to Janet Yellen. In Washington also ask if she wanted to apologize for putting him in this situation with this foolish risk. But this is a company where he's delivered. The best earnings Jim motels and the country's companies hundred and sixty one year history. It's really been incredible any bad news, which has come out the last two years. It was not the office of the controller the currency. They're getting a free ride off of this pilot. You know, champion all these great scandals that Tim was bringing out. He was the one who is turning the rocks over not like John Stomas. His predecessor who was apparently deceiving. Even the board is Kim was the guy who was bringing public. But he's not a backslapping cheerleader charismatic guy. He was a CFO that didn't know that. He was put on earth to be the CEO. He rose to the occasion Lake Mary Barra. Sometimes you get insiders that are heroic to take this on. And I think it was a cheap

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