Three executives Tracy Kidd (HR), Deanna Lindquist (Legal), and John Sootodeh (Community Banking) all fired or pushed out recently because of account scandal. Good.
Two high-ranking Wells Fargo executives in Charlotte are no longer with the company, the latest changes at the top of the bank since a sales scandal broke more than a year ago.
Tracy Kidd, former head of human resources for Wells’ community banking segment, and Deanna Lindquist, former head of a legal department group responsible for employment matters and other areas, no longer work for the company, Wells spokeswoman Aimee Worsley confirmed Monday.
Worsley declined to provide further details on the executives, including why they weren’t at the bank anymore, after The Wall Street Journal reported on the development. Kidd and Lindquist could not be reached for comment.
Kidd was among top executives named in a report the San Francisco-based bank’s board released last April detailing findings of the board’s investigation into the scandal. The investigation was prompted by September 2016 revelations that Wells employees for years had been opening accounts without customer knowledge to meet sales goals.
According to the board’s report, Kidd assumed her most recent role in 2014 and reported to community bank head Carrie Tolstedt, who left the bank in the wake of the scandal. Kidd believed that the community bank was proceeding appropriately to address the sales issues from 2014 to 2016, the report said.
Beth Hummels, a Wells Fargo veteran based in Charlotte, has been named Kidd’s replacement, Worsley said. A replacement for Lindquist has not been named yet, Worsley said.
Worsley also confirmed Monday that Denver, Colo.-based John Sotoodeh, lead community banking president in the Mountain Midwest region, is no longer with the company. Worsley declined to provide more details.
According to the board’s report, Sotoodeh had presided over Los Angeles when that area became the epicenter for sales mispractices that had come to light in a 2013 Los Angeles Times report.
The report said Sotoodeh had displayed a high-pressure management style, but also said witnesses described him as making significant attempts to improve the sales culture in Los Angeles.
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