Wells Fargo chief executive steps down
John Stumpf has stepped down as the chief executive of US bank Wells Fargo, as the bank grapples with a scandal over its sales practices. In September, the bank was hit with a multimillion-dollar fine by US regulators for “secretly opening unauthorised deposit and credit card accounts”.
“While I have been deeply committed and focused on managing the company through this period, I have decided it is best for the company that I step aside.”
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