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Wells Fargo likely to eliminate 2016 bonuses for top executives-WSJ
February 8, 2017 / 9:10 PM / 9 months ago

Wells Fargo likely to eliminate 2016 bonuses for top executives-WSJ

Feb 8 (Reuters) - Wells Fargo & Co’s board is likely to eliminate 2016 bonuses for the bank’s top executives following the bogus account scandal, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The board met in late January and discussed withholding bonuses for senior executives, including Chief Executive Timothy Sloan and Chief Financial Officer John Shrewsberry, the WSJ said. (on.wsj.com/2k48WHs)

The board is expected to finalize its decision, which could affect annual incentive awards that are paid in cash or stock, in coming weeks.

A Wells Fargo spokesman declined to comment. (Reporting by Sweta Singh in Bengaluru; Editing by Savio D‘Souza)

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