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Wells Fargo CEO retires; chief administrative officer tapped as replacement

Wells Fargo & Co. chief financial officer Howard Atkins is retiring and the bank’s chief administrative officer and senior executive vice president will fill the post.

Timothy Sloan, 50, will replace Atkins immediately, Wells Fargo said.

Atkins’ retirement is not related to the company’s financial condition or financial reporting, Wells Fargo said.

Sloan will continue to report to John Stumpf, Wells Fargo’s chairman, president and CEO.

Atkins’ retirement becomes effective in August, following an unpaid leave of absence he will begin immediately.

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