Summary
Wells Fargo & Company/MN (WFC) filed an 8-K on February 8, 2011, reporting a significant executive change. Howard I. Atkins resigned from his position as Senior Executive Vice President and Chief Financial Officer for personal reasons, unrelated to the company's financial health or reporting. He will be on an unpaid leave of absence until his retirement in August 2011. In response to Mr. Atkins' departure, the Board of Directors appointed Timothy J. Sloan as the new Chief Financial Officer, effective immediately. Mr. Sloan, aged 50, has a long tenure with Wells Fargo, having joined in 1987 and most recently served as Senior Executive Vice President and Chief Administrative Officer since September 2010. This filing also includes a press release detailing these executive transitions as an exhibit.
Key Highlights
- 1Howard I. Atkins resigned as Senior Executive Vice President and Chief Financial Officer (CFO) for personal reasons.
- 2Mr. Atkins' resignation is stated to be unrelated to the company's financial condition or financial reporting.
- 3Mr. Atkins will remain with the company in an unpaid leave of absence until his retirement on August 6, 2011.
- 4Timothy J. Sloan, age 50, was appointed as the new CFO, effective February 8, 2011.
- 5Mr. Sloan has extensive experience with Wells Fargo, joining in 1987 and holding various senior roles, including Chief Administrative Officer.
- 6The filing includes a press release announcing these executive changes as an exhibit.