Wells Fargo CEO's Pay Fell 12% in 2020
As a big bank goes, so goes its CEO compensation.
That, at least, is the dynamic at the most troubled of the big four American banks, Wells Fargo (NYSE: WFC). Last year, the company paid leader Charlie Scharf just over $20.3 million, including base salary and incentive payouts. That was down from $23 million in 2019, the year he took the reins.
Wells Fargo continues to lag behind its peer group. While other major banks managed to turn a profit and maintain their dividends throughout the year despite heavy second-quarter loan-loss provisioning, Wells Fargo posted its first quarterly net loss since 2008. It also cut its dividend by a steep 80%, slicing it to $0.10 per share from the previous $0.51.
Source Fool.com
