Wells Fargo CEO says ousting most of board would be 'crazy'

New York

WELLS Fargo & Co's new chief executive officer, Tim Sloan, just survived his biggest test yet, when a board investigation found he wasn't to blame for the bank's notorious account scandal. But his next is just days away: persuading investors not to expel much of the board.

His message on that is blunt. Not one person, not one, should get tossed. "It would be a shame if any one of our directors didn't receive an overwhelming majority of the vote," Mr Sloan said on Wednesday in New York. "I think that would be a mistake."