Wells Fargo chairwoman quits after Maxine Waters called for her resignation
Updated 1:05 PM ET, Mon March 9, 2020
New York (CNN Business)Wells Fargo Chair Betsy Duke resigned abruptly Sunday, just days after Representative Maxine Waters called for her ouster.The sudden departure of Duke, a former Federal Reserve official, marks the latest turmoil in the C-suite of one of America’s largest and most troubled banks. Wells Fargo (WFCPRL) is on its third CEO and second chair since a fake-accounts scandal erupted in September 2016.Duke had served as chair of Wells Fargo’s board since January 2018 where she presided over the company’s attempts to move beyond its legal troubles. Before that, Duke was the bank’s vice chair from October 2016 through the end of 2017.Wells Fargo also announced the resignation of James Quigley, a member of the bank’s audit and risk committees and a director since 2013.
The moves come after the Water