The Advisors' Blog

This blog features wisdom from respected compensation consultants and lawyers

April 11, 2017

The Big Wells Fargo Clawback

Broc Romanek

The big news from Wells Fargo yesterday was that the company’s board exercised its discretion to clawback $75 million from its former CEO and former head of community banking. Here’s the 113-page Wells Fargo board report – and here’s the news:

NY Times “Wells Fargo to Claw Back $75 Million From 2 Former Executives”
USA Today’s “Wells Fargo clawing back $75.3 million more from former execs in fake accounts scandal”
WSJ’s “Wells Fargo Claws Back Millions From CEO After Scandal
Fortune’s “How Wells Fargo’s Carrie Tolstedt Went from Fortune Most Powerful Woman to Villain”

Here’s analysis about this situation from Kevin LaCroix…