Wells Fargo Claws Back $15 Million of Former CEO’s Pay

Wells Fargo Claws Back $15 Million of Former CEO’s Pay
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Timothy Sloan left last year after failing to turn around the lender

Timothy Sloan, the Wells Fargo & Co. chief executive who left last year after failing to turn around the troubled lender, lost $15 million in compensation after he exited.

The company’s board of directors decided to claw back that money, which had been granted to him in early 2019, according to a regulatory filing released late Monday. The disclosure also said he left with no severance.

Source: Wall Street Journal

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