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Warren Buffett slams Wells Fargo leadership

Berkshire's annual meeting also discusses succession plans, tie-up with 3G Capital

The bosses "incentivised the wrong type of behaviour", and former chief executive John Stumpf, who lost his job over the scandal, was too slow to fix the problem, says Mr Buffett.


WARREN Buffett, the chairman of Berkshire Hathaway Inc, criticised Wells Fargo & Co for failing to stop employees from signing up customers for bogus accounts even after learning it was happening, causing a scandal.

Wells Fargo, whose largest shareholder is Berkshire with...

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