This guy is gone because of bad PR - blaming the regular employees and holding the management innocent of wrong doing. How long before JW kicks him off the Chevron board? Who will replace him?
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"Ex-Wells Fargo CEO Quits Target, Chevron Boards Amid Accounts Scandal"...that's that.
Under public pressure and constant bad rep in the media - that's why he's gone.
Stumpf resigned from the Chevron board today.
It is both surprising and not surprising that JS has not been removed from the BOD yet. From the news about the fraudulent accounts at WF, this has been known to upper management and the BOD since 2004. Warren Buffet is a board member of WF and he has been silent since this fraud activity became news. It is always the low level people who get punished for bad management.
Does anyone know if he is getting kicked out of the Cvx board?
@1mzh, IMO, anyone who defends John Stumpf (Wells Fargo ex-CEO) is as out of touch will reality or is a personal dear friend of his with the same lack of ethics and scruples. Maybe our CEO, J.W. is someone to mistrust?
Defending a crook. What a dumba$$ move.
Here is his bye bye email as it was leaked here on layoffs.com
https://www.thelayoff.com/t/JPhXMVu
or
JW showed everyone how clueless he is about corrupt management by defending Stumpf. This could be bad for Watson
He's gone because he is the leader of a corrupt organization. His golden parachute will insure he has a soft landing.
Chevron rewards incompetence... He has a great future on the board
In the last post I meant "role" not "roll."
Kick him off!? JW probably wants to bring him on in some sort of executive roll now that he's got some free time. CVX and WF seem to use the same playbook.
Chevron should not have defended him in the first place. Poor show
JW can't boot him,
The other board members will.