Wells Fargo struggles to attract interest from top candidates for CEO role

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Wells Fargo is continuing its search to find a new CEO following Timothy Sloan’s resignation in March. The bank had identified PNC CEO William Demchak and former US Bancorp CEO Richard Davis as potential replacements, but both candidates showed no interest in taking the job. Gordon Smith, JPMorgan’s co-chief operating officer and another top candidate for Wells Fargo, is also unlikely to take the job according to reports. Wells Fargo’s board has come under scrutiny for failing to have a succession plan in place. C. Allen Parker, the bank’s general counsel, has been serving as interim CEO.

The World Street Journal, Rachel Louise Ensign and David Benoit, June 11th 2019