True Pundit


Golden Parachute: Wells Fargo CEO could walk with $200 million


But Stumpf is likely to walk away with a fortune even if he’s forced out over the national uproarabout the creation of millions of fake accounts.

Stumpf will leave with about $200 million — made up of cash, Wells Fargo stock and options, a CNNMoney analysis has found.

Even if Stumpf is fired “for cause,” such as violating company policy, he would have to forfeit only a portion of that sum.

Stumpf, 63, has been CEO since 2007 and was at the helm the entire time that the phony accounts scandal was taking place at the bank. Two weeks ago Wells Fargo was penalized $185 million in penalties and admitted to firing 5,300 employees for engaging in these shocking tactics. – READ MORE

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