Wells Fargo CEO Stumpf: Didn’t Consider Firing Tolstedt

The transcript discusses the controversy surrounding Miss Tolstedt's retirement from Wells Fargo amidst a massive fraud scandal. It highlights the board's awareness of the issues, the decision not to fire her, and her eligibility for incentives despite the scandal. The conversation delves into the board's governance process, the changes made to employee compensation, and the challenges in addressing executive compensation. The discussion emphasizes the need for accountability and transparency in board decisions.

What indications were there regarding the problems within the company before Miss Tolstedt's retirement?

Why did the board not consider firing Miss Tolstedt before her retirement despite the issues?

What was the response regarding Miss Tolstedt's eligibility for an annual incentive award?

What changes were made to the compensation scheme for employees, and how does this relate to Miss Tolstedt?

How did the chairman justify the board's decision-making process regarding compensation changes?