When Charlie is removed, or announces that he is stepping down “to spend more time with his family”, do you think the stock will move up or down??
15 replies (most recent on top)
LOL
Remove immediately, we don't require a single costly CEO for 27 million; instead, consider hiring 27 CEO's in India, each with a salary of one million.
I try not to think about how much I have lost since being here.
Depends on if they have the common sense to replace him with Ather or go with another traditional banker.
I would expect the stock to go up slightly when it is announced he is departing. Nothing really special about that. Most companies that have gone through trying times and the CEO leaves will usually see a bump in the stock price.
It's too late for it to go up, based on a new CEO. Too much damage has been done.
F SP. He's not remotely qualified.
Thanks for reminding. I forgot about the Wells Fargo Scandal Life Cycle (WFSLC). Another one will come soon.
Up. Not only he is useless, he destroys the bank and morale.
It won’t move either way. Any announcement about the latest butt in the CEO chair will be overshadowed by the latest scandal, whatever it happens to be at the time.
Quite honestly at this point, I could care less. This toxic bank should not exist any longer. They can sell it to any buyers.
Down, simply due to constant WF chaos and corruption.
Proof of more in today's settlement:
https://finance.yahoo.com/news/wells-fargo-1-billion-settlement-180936556.html
How has the stock done over the last four years with him in charge?
Good question. Agree with it depending on who the replacement is. And how the messaging is handled. It can’t be “more of the same”. It has to be someone with a fresh perspective, someone who is not from another Wall Street Bank, someone who has a strategy and can clearly communicate it, someone who builds teams rather than destroys them, and someone with enough confidence to do it differently and do it right.
Wells Fargo has the capacity to be a great bank. We need a CEO who loves the bank, not a CEO who hates it.
Depends on who the replacement is. If it's SP, down.