Wells Fargo looks Outside the Box for a Fresh Face
To say Wells Fargo has been going through hard times
lately would be an understand. After their big scandal of 2016, with hundreds
of thousands of fake bank accounts being created using current customers
personal information, they have been on constant damage control. Soon after the
scandal first occurred, the then CEO of Wells Fargo was forced to step down in
which Tim Sloan stepped up took his place.
For the past two years since the scandal,
Wells Fargo has been campaigning and rebuilding their brand to present
themselves with a new brand image to customers as a trustworthy bank. They are
trying to grow from who they were before the scandal and show customers that
yes, they messed up, but they are working extremely hard to fix things and
build the lost truck back. Millions of people were affected by the scandal, but
not all of those millions left Wells after. Due to how hard they have been
working at remodeling and rebranding their logo, they have had quite a bit of
success leading to their stock increasing in the market.
Despite
this success with their new “This is Wells Fargo” campaign which is primarily
focused on rebuilding trust, Wells Faro CEO Tim Sloan stepped down at the end
of this past March. This ended his thirty-one-year career at the bank and
marked a sign of the end of all his work over the past two and a half years to
help with the Scandal. Wells Fargo currently has an interim CEO, but are
searching hard for a new CEO. They want a fresh face for their new CEO, someone
who has not had any involvement with the company or the scandal. They are hoping
that by bringing someone new into the company they will be able to steer
themselves in an even better direction of change. This fresh start will
hopefully look very good to the public and help improve their issues even more.
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