Jim Cramer discusses what's next for Wells Fargo following Tim Sloan's resignation.
Tim Sloan resigned, following the market closed, as chief of the scandal-plagued Wells Fargo even though he delivered a quarter that exceeded expectations, CNBC's Jim Cramer said Thursday.
The stock closed up 0.66 percent on the session, and jumped as much as 3.3 percent after the announcement. Sloan became CEO in 2016. Index funds, as promoted by the late John Bogle, typically beat most individual money managers in the long run, but Cramer said some stocks are popping as the major averages make little noise."Starting with the Lyft IPO, I think individual stock picking is going to start making a bit of a comeback. I sense the excitement, the possibilities, but don't leave it to just the IPOs," the "Mad Money" host said.
Executive Chairman Richard Daly told Cramer there are changes coming to proxy voting, where shareholders vote on major decisions facing a company, and how voters can access information.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Wells Fargo CEO Tim Sloan steps down suddenlyJUST IN: Wells Fargo has announced the sudden retirement of CEO Tim Sloan as the bank struggles to overcome a litany of scandals
Leer más »
Wells Fargo CEO Sloan steps down after rocky tenureNEW YORK (AP) — Wells Fargo Chief Executive Tim Sloan is stepping down, effective immediately, after less than four years on the job during which the troubled bank dealt with a seemingly unending...
Leer más »
Wells Fargo CEO Tim Sloan is retiring, and shares jumpSloan had been made CEO to clean up the bank's fake accounts scandal. But in the end, Wells Fargo's problems overwhelmed him.
Leer más »
Wells Fargo CEO Tim Sloan retiring, shares jump
Leer más »
Wells Fargo, Mastercard CEOs say blockchain has yet to live up to the hypeWells Fargo CEO Tim Sloan says the reality of blockchain has yet to catch up to the hype.
Leer más »
Elizabeth Warren on Tim Sloan leaving Wells Fargo: 'About damn time'The Massachusetts Democrat has previously called for the ouster of Wells Fargo's CEO
Leer más »
Former Goldman exec Harvey Schwartz is not interested in Wells Fargo CEO jobContrary to reports, the former president and co-chief operating officer at Goldman has not interviewed for the Wells position.
Leer más »
Watch the CEOs of Wells Fargo and Mastercard discuss payments and the future of bankingWells Fargo's Tim Sloan and Mastercard's Ajaypal Banga discuss payments and the future of banking at the Fintech Ideas Festival.
Leer más »