Wells Fargo CEO Tim Sloan is retiring as bank struggles to get past scandals
WASHINGTON - Wells Fargo & Co.'s embattled chief executive, Tim Sloan - who has struggled to get the giant San Francisco bank past a seemingly endless series of customer abuse scandals - is retiring.
He is stepping down as CEO, president and board member, effective immediately, and his retirement takes effect June 30.
His interim replacement will be C. Allen Parker, who has served as the company's general counsel.
Sloan, a low-key Wells Fargo veteran of 31 years, took over the top job in 2016 amid the fallout over the bank's acknowledgement that employees had opened millions of checking, savings and credit card accounts that customers never authorized.
As a top executive at Wells Fargo when the accounts were being created starting as early as 2002 - including stints as chief financial officer,
