Wells Fargo CEO Chooses Golden Parachute
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 13 October 2016
⏱️ 28 minutes
🧾️ Download transcript
Summary
Wells Fargo CEO John Stumpf abruptly announced his retirement, throwing new CEO Tim Sloan into the deep end of the pool days before third quarter earnings. Plus Amazon prepares for the holidays and Ulta continues its hot streak.
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Transcript
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| 0:00.0 | This episode of Market Foolery is brought to you by Tommy John. |
| 0:03.0 | Tommy John makes underwear that keeps everything in place, whichever way a man moves. |
| 0:06.6 | For 20% off of your first purchase, go to Tommy John.com slash fool and use the promo code Fool,'s f-o-o-o that's Tommy John dot com slash fool |
| 0:17.7 | promo code fool |
| 0:20.3 | it's Thursday October 13th. |
| 0:22.6 | Welcome to Market Foolery. |
| 0:23.8 | I'm Mark Wreath and joining me in studio today |
| 0:25.4 | for a million dollar portfolio, Jason Moser. |
| 0:28.9 | You know, it's a pleasure to see you. |
| 0:30.4 | It's always a pleasure to see you. |
| 0:31.7 | We've got balloon a-corn in the studio as well. Well, she is wise. She is wise, you know, and it is she. We get that question from time to time. |
| 0:39.0 | Sure. We are all about diversity in the workplace and really she's our only balloonicorn in the office unfortunately |
| 0:45.9 | But we're looking to incorporate some more balloonicorns into our work |
| 0:50.3 | Speaking of work let's talk about an out-of-work CEO. John G. Stumpf, the CEO of, or former CEO at this point of Wells Fargo, announced |
| 1:00.5 | his departure very abruptly on Wednesday. |
| 1:04.0 | People have been calling for his head ever since this whole Wells Fargo debacle came to light. |
| 1:09.0 | But it came as a surprise that he just stepped down not just so abruptly but also because the board of directors over at Wells Fargo had begun an investigation into what had happened at the company and hadn't made any sort of ruling at all about if they were going to |
| 1:24.5 | fire him or keep him or just punish him or whatever they would have decided. |
| 1:29.5 | That was way down the road and he just said no thanks I'll see you later what is your take on |
| 1:34.9 | John G Stumpf pulling the rip cord getting the heck out of there I probably |
| 1:39.0 | honestly would have probably done the same thing. I think the bottom line is when |
| 1:43.6 | whenever you're in a position of leadership like this I mean it you're |
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