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
One person was shot and injured Saturday night in Greenville County, according to dispatch.
A dog abused not once, but twice, and left to die is now on the path to recovery here in the Upstate.
Greer Police held their annual Cops for Tots program Saturday to help provide underprivileged children receive presents for Christmas.
One person has died after a crash on East North Street in Greenville, Saturday morning.
One person was taken to the hospital after an overnight fire in Greenville County.