US bank boss will apologise today over a scandal that has seen shareholders demand the roles of chairman and chief executive be split.
John Stumpf, the chairman and chief executive of scandal-hit US bank Wells Fargo, is expected to apologise to senators for the handling of false accounts debacle, which has so far seen more than 5,000 employees fired.
According to Bloomberg, Stumpf will give the apology in a prepared statement to be offered to the senate banking committee today, where he will be interrogated on why the scandal happened while he was in charge.
At the end of last week shareholders began “filing resolutions” to split the roles of chairman and chief ex
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda