In his first interview after being named CEO, Wells Fargo’s Tim Sloan told CNBC that the decision of former CEO John Stumpf to resign was a sad one, and that he felt sorry for his friend.
Sloan also said he was disappointed with the House and Senate hearings at which Stumpf was grilled over the fraudulent sales practices that led to nearly 2 million unauthorized accounts being opened for customers. And while it is a sad moment when Stumpf is retiring, Sloan is looking forward to being CEO.
Read more from the first interview with the new CEO, as well as background on what Sloan knew or didn’t know about the fraudulent sales practices in the departments under his report.