Instead, the compensation moves are linked to holding Wells Fargo management accountable for the bank's overall performance. For the latest business news and markets data, Wells Fargo's board of directors is expected to soon decide to eliminate annual bonuses for CEO Tim Sloan, Chief Financial Officer John Shrewsberry and other senior executives, a person familiar with the matter confirmed to CNNMoney.
Factset: FactSet Research Systems Inc.2019.
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Morningstar: © 2019 Morningstar, Inc. All Rights Reserved. "We've got a very proud history, but we've made some mistakes," Sloan said on Wednesday while appearing at the Yahoo Finance All Markets Summit.
The board's investigation has been previously described as "massive," involving Wells Fargo Chairman Stephen Sanger has promised the review will "follow the facts wherever they lead" and indicated it could result in more punishments for former and current executives.
The bank said Sloan received no severance benefits or annual incentive award last year after resigning under pressure from regulators, who had criticized his handling of the bank's consumer banking scandals.
Sloan's 2016 compensation hasn't been released yet, but the Wells Fargo boss made $11 million in total compensation in 2015.
For your security, we do not recommend using this feature on a shared device.It doesn't happen with one transaction, in one day on the job or in one quarter. Take Sloan, the CEO of Wells Fargo. Sloan called Stumpf a "friend" and a "fine man," adding that he wishes the longtime CEO "all the success in the world." With CEO you can easily manage cash flow and liquidity, monitor accounts for fraud, analyze and report on balances and transactions, receive critical alerts and manage accounts and users. We're no longer maintaining this page.
Wells Fargo's board is likely to wipe out 2016 bonuses for CEO Tim Sloan and other senior executives as the bank continues to dig out from its fake account scandal.
Everyday Checking provides convenience and fast access. That included a base salary of $2 million, bonuses and long-term stock rewards. All rights reserved. Wells Fargo managers: the pressure was unbearableRelated: Wells Fargo fiasco hold up severance for 400 workers All rights reserved.
Big bank execs: What they take home When times were good, the top executives from the largest U.S. banks made a mint. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Wells Fargo: Provider of banking, mortgage, investing, credit card, and personal, small business, and commercial financial services. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies.Investment products and services are offered through Wells Fargo Advisors. CEO provides secure access to the banking services you need to help manage your business. Wells Fargo’s board of directors canceled a $15 million bonus it had awarded to former CEO Tim Sloan, the bank said in a proxy filing.
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Wells Fargo’s board canceled the $15 million stock bonus it gave to former CEO Tim Sloan last year, the company said in a proxy filing Monday.
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