Wells Fargo Claws Back $15 Million of Former CEO’s Pay

Wall Street Journal, Mar. 16, 2020–Ben Eisen (subscription)
Timothy Sloan, the Wells Fargo & Co. chief executive who left last year after failing to turn around the troubled lender, lost $15 million in compensation after he exited. The company’s board of directors decided to claw back that money, which had been granted to him in early 2019, according to a regulatory filing released late Monday. The disclosure also said he left with no severance.