30, we announced that Sarah Dahlgren will join Wells Fargo as head of regulatory relations, effective March 12.
“While we have more work to do, these orders affirm that we share the same priorities with our regulators and that we are committed to working with them as we deliver our commitments with focus, accountability, and transparency.
Our customers deserve only the best from Wells Fargo, and we are committed to delivering that.”Read the news release The orders require the company to pay $1 billion in total civil money penalties.
29, we announced a newly formed Commitment to Customer Center of Excellence, which centralizes customer remediation efforts for consumer businesses effective Dec. Headed by Joe Rice, the new group will cover the company’s Community Banking, Consumer Lending, and Payments, Virtual Solutions & Innovation businesses. 29, the Board of Directors announced it elected three new independent directors as part of its succession planning and refreshment process.
With this announcement, the board has named six new directors in 2017 and a total of eight new independent directors since 2015.
Read the news release“On behalf of the entire board, I want to thank John, Lloyd, Rick, and Federico for their many contributions and service to our board and company,” said Board Chair Betsy Duke.
“We respect their decisions to retire and know our board benefited greatly from their expertise and perspectives during their many years of service. 2, we announced our commitment to satisfy the requirements of a new consent order we agreed to with the Federal Reserve.
Read the news release The three new directors, each of whom will join the board on Jan. Clark, former chief sustainability officer and global public policy and external relations officer of Kellogg Company, where she led Kellogg’s global Corporate Communications, Public Affairs, Sustainability and Philanthropy functions.• Theodore F.
Craver, Jr., former chairman, president, and chief executive officer of Edison International, one of the nation’s largest electric utilities.
Under the consent orders, we will also submit for review plans detailing our ongoing efforts to strengthen compliance and risk management, and our approach to customer remediation efforts.
On March 1, we filed our annual Form 10-K with the Securities and Exchange Commission, providing information on new and existing reviews and efforts under way to find and fix problems and rebuild trust.
In a companywide message, CEO Tim Sloan said, “When we discover a problem, we are moving to find the root cause and fix it — so we can be confident we are doing all we can to build a better, stronger Wells Fargo.”Read the message , who was scheduled to retire from the board in 2019, have decided to retire at the company’s 2018 Annual Meeting of Shareholders.