Corporate
Apr. 14, 2017
What if you must return pay, like Wells Fargo?
In the wake of its fake account scandal, Wells Fargo installed a new chief executive, reformed its sales incentives, and clawed back more than $60 million in stock awards from executives. By Robert W. Wood
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
In the wake of its fake account scandal, Wells Fargo installed a new chief executive, reformed its sales incentives, and clawed back more than $60 million in stock awards from executives. Recently, an internal investigation revealed that the improper sales practices go all the way back to 2002. That prompted Wells Fargo to claw back another $75 million, and to retroactively fire Carrie Tolstedt, the former head of the unit in cha...
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