Wells Fargo CEO Search Takes Toll on Shares

The transcript discusses the ongoing search for a new CEO at a major bank following Tim Sloan's departure. Despite being a prime job, the position remains unfilled due to the bank's scandals and the challenges of stepping into the spotlight. The bank's stock has underperformed compared to others, raising investor concerns. The board promised a swift and thorough search process, but only the thorough part seems to be happening.

What is the significance of Tim Sloan stepping down as CEO?

What did the bank promise regarding the process of finding a new CEO?