Wells Fargo said Thursday that Tim Sloan will retire at the end of June, but is stepping down immediately as CEO, president and board member.
The board named General Counsel Allen Parker as interim CEO and president, while the bank begins a search for a permanent CEO.
In a dramatic move for a bank that has long promoted from within, Wells Fargo (NYSE: WFC) said its next CEO will come from outside the bank.
Sloan’s departure after more than 30 years with the bank marks the end of an era for…
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