Daily News: May 13, 2019

Wells Fargo Struggles to Find New CEO Under Pay Limitations


Reuters reports a source familiar with Wells Fargo’s search for a new CEO says the attempts have been hobbled by pay limits.

The source, according to Reuters, asserts the bank cannot meet the pay requirements sought by potential candidates in the wake of several scandals that stunted the Wells Fargo’s financial performance.

Reuters adds that this would mean a potential CEO would still earn between $15 million to $20 million, though this trails behind the industry average of $25 million.