Wells Fargo CEO John Stumpf will forfeit much of his 2016 salary -- including his bonus and $41 million in stock awards -- as the bank launches a probe into its phony accounts scandal.
The fallout from the controversy has also resulted in its first major executive departure. Carrie Tolstedt, who headed the division that created the fake accounts, has left the company. Tolstedt was planning on retiring at the end of 2016, but she has exited the company ahead of schedule.
Wells Fargo CEO forfeits stock awards worth about $41 million as company launches investigation - Sep. 27, 2016
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