Wells Fargo & Co's board has retained executive search firm Spencer Stuart ...
NEW YORK - Wells Fargo & Co’s board has retained executive search firm Spencer Stuart to hunt for a new chief executive, ideally a woman who can tackle its regulatory and public perception issues, two people familiar with the matter said.
Former CEO Tim Sloan left abruptly last month, becoming the second CEO to leave the bank in the scandal’s fallout. It also believes that such a move could bolster Wells Fargo’s image with the households of customers where women play a leading role in managing finances, one of the sources added. Finding an outsider who meets all those qualifications and wants the job will be difficult, the sources said. There are few people with the necessary experience, even fewer of those who are women, and it is not clear if any of the obvious candidates would be open to taking the role.Spokespeople for Wells Fargo and Spencer Stuart declined to comment.
Others whose names have been mentioned by analysts, recruiters and industry sources as perspective CEO candidates include Alphabet Inc finance chief Ruth Porat and Bank of America Corp’s chief technology officer Cathy Bessant.
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