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The employees' goal posts got moved repeatedly, to the point where employees started cheating out of desperation. The CEO is culpable because of his "eight is
by gizmo 10y ago
The employees' goal posts got moved repeatedly, to the point where employees started cheating out of desperation.
The CEO is culpable because of his "eight is great" mantra. The average citizen does not need multiple checking accounts and multiple credit cards. The entirely goal of the "eight is great" program was to use high pressure sale tactics to push services onto customers that they didn't need.
> At the end of last year, the average Wells Fargo retail customer had 6.3 products, according to the company. [1]
For retail customers this number is absurd. The CEO was fully aware of this. There were whistle-blowers, of course. They got fired.
This was a failure of corporate governance, a failure of internal checks and balances, and a complete moral failure of the chief executive.
So yes the CEO should be held accountable, and that should include jail time.
[1] http://www.wsj.com/articles/how-wells-fargos-high-pressure-sales-culture-spiraled-out-of-control-1474053044 http://www.wsj.com/articles/how-wells-fargos-high-pressure-s...