SAN FRANCISCO (AP) — Wells Fargo’s embattled CEO John Stumpf has resigned, effective immediately, as the nation’s second-largest bank is roiled by a scandal over its sales practices.
The San Francisco bank said Wednesday that Stumpf will also relinquish his title as chairman. Its chief operating officer, Tim Sloan, will succeed Stumpf as CEO.
Stumpf had led Wells Fargo since 2007.
He faced congressional hearings and consumer wrath after Wells Fargo was found to have opened millions of bank accounts without customers’ permission.
Stephen Sanger, the bank’s lead director, will serve as the board’s non-executive chairman. Independent director Elizabeth Duke will serve as vice chair.
More stories you may like on 7News
The robberies all happened Sunday and Monday in Spartanburg County.
Police are looking for a man they say used a debit card that was stolen from a car that was broken in to in Simpsonville, Thursday.
Carlton Thompson got the nicknames “Gamecock Jesus” and “Baseline Jesus” because of his long hair and beard and because he’s missed very few…
Three people have been arrested in a theft from Macedonia Lutheran Church in Prosperity, according to the Newberry Co. Sheriff’s Office.
A Mauldin man has been arrested on numerous charges of distributing child pornography, according to the South Carolina Attorney General.