Wells Fargo Names BNY Mellon's Scharf as CEO

Charles W. Scharf is appointed as the new CEO of Wells Fargo, effective October 21st. Previously CEO of Visa and Bank of New York Mellon, Scharf is expected to address the challenges faced by Wells Fargo, including the fake account scandal. His diverse background and experience with regulators make him a suitable choice. Warren Buffett's support is noted, and Scharf's role involves cleaning up the bank and dealing with regulatory issues.

Who is the new CEO of Wells Fargo and when did he join the company?

What were some of the previous positions held by Charlie Scharf before becoming CEO of Wells Fargo?

What was the general sentiment about the CEO position at Wells Fargo prior to Charlie Scharf's appointment?

What major scandal did Wells Fargo face that led to the need for a new CEO?

How did Warren Buffett view the appointment of Charlie Scharf as CEO of Wells Fargo?