Wells Fargo CEO Timothy Sloan recently spoke at a conference dedicated to good corporate governance. The bank he leads has confessed to employees creating up to two million fraudulent accounts in customers’ names.
He thinks the criminal enterprise he runs is just fine…he openly gushing about it.
For Sloan, the evening at Stanford presented an excellent opportunity to offer sincere contrition for the scandal, which has plagued Wells Fargo since last year. Sloan took a pass.
At a company recovering from scandal, “you have to be humble,” said Johanne Bouchard, a Bay Area consultant who advises boards and top executives. “‘We apologize. We didn’t think through the issues. We weren’t fully prepared.’ The board’s responsibility is to be about accountability.”
Not Wells Fargo. Their criminal activities apparently will continue.
Source: San Francisco Chronicle