Wells Fargo CFO Atkins To Retire
SAN FRANCISCO (AP) -- Wells Fargo & Co. said Tuesday Chief Financial Officer Howard Atkins is retiring and the lender has named Timothy Sloan as successor, effective immediately.
Atkins, 60, is retiring for personal reasons, not for anything related to the company's financial condition or financial reporting, Wells Fargo said.
Atkins' retirement becomes effective in August, following an unpaid leave of absence he will begin immediately.
"We understand Howard's decision to retire after having served Wells Fargo successfully for nearly ten years and after having had a financial services career that has spanned four decades," John Stumpf, the company's chairman, president and CEO, said in a statement.
Sloan, 50, most recently held the post of chief administrative officer. Prior to that, he was head of commercial banking, real estate and specialized financial services, overseeing more than 25 lines of business and a portfolio of responsibility representing $200 billion in assets and 440 offices across the globe.
Sloan's chief administrative officer responsibilities will be taken over by Patricia Callahan, who leads the company's Wachovia integration.
Wells Fargo shares fell $1.08, or 3.2 percent, to $33.02 in after-hours trading after adding 78 cents to $34.10 during the regular session.
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