NEW YORK Oct 12 Wells Fargo & Co
chairman and chief executive officer, John Stumpf, will retire
and the board of directors has chosen Tim Sloan as the new CEO,
the U.S. West Coast-based bank said on Wednesday.
Stephen Sanger will be chairman and Elizabeth Duke the vice
The changes are effective immediately.
Wells Fargo is due to report third-quarter earnings on
Friday after a Congressional probe and lawsuits following
complaints that unauthorized customer accounts to meet sales
targets were opened.
(Reporting by Carmel Crimmins; Editing by Bernard Orr)