Wells Fargo Gives CEO Scharf a $30M Award, Names Him Chair

Wells Fargo gives CEO Scharf a $30M award, names him chair

The executive joins the CEOs of Goldman Sachs and Capital One in receiving eight-figure equity awards this year. Citi will be the only U.S. SIFI with separate CEO and chair roles.

Wells Fargo to name Scharf chairman

The decision to rejoin the CEO and chairman roles comes roughly two months after regulators removed an asset cap that had stunted the San Francisco-based company's growth for seven years.

Wells Fargo board to appoint CEO Scharf as chairman - Regional Media News

(Reuters) -Major U.S. lender Wells Fargo said on Thursday its board of directors intends to appoint CEO Charlie Scharf as chairman. The move comes after Scharf led Wells Fargo to be released from a punitive, seven-year-long $1.95 trillion cap on its assets last month. The board also awarded Scharf a one-time special equity grant consisting of $30 million in restricted share rights and stock options. (Reporting by Ateev Bhandari in Bengaluru; Edi…