Wells Fargo Announces Human Resources Leadership Change

Rhea-AI Summary

Wells Fargo (NYSE: WFC) announced that David Galloreese, head of Human Resources, will depart the company on April 23, 2021, for another opportunity. Kleber Santos, currently leading Diverse Segments, Representation and Inclusion, will serve as interim HR head during the search for a successor. CEO Charlie Scharf commended Galloreese for his significant contributions since 2018, especially during recent organizational changes. Santos' leadership is expected to ensure continuity during this transition.

Positive

• Kleber Santos, a strong leader, is appointed interim head of Human Resources, ensuring continuity.
• David Galloreese's leadership since 2018 has significantly contributed to the company's transformation.

Negative

• The departure of a key HR leader may raise concerns about continuity in human resources management.

Wells Fargo & Company (NYSE: WFC) today announced that David Galloreese, head of Human Resources, will leave Wells Fargo on April 23, 2021, to take a role outside the company.

Kleber Santos, head of Diverse Segments, Representation and Inclusion and a member of the Operating Committee, will take on the additional role of interim head of Human Resources while the company conducts a thorough and formal search for a new head of Human Resources.

“Since joining Wells Fargo in 2018, David has made many significant contributions to our company that are instrumental to our ongoing transformation,” said CEO Charlie Scharf. “In particular, he has led through a period of significant change for the company and the Human Resources organization. For me personally, David has been a trusted and collaborative partner since I joined the company, and I know I speak for many in saying we wish him all the best and thank him for his leadership and contributions. We are fortunate to have a strong leader like Kleber to step in while we conduct a comprehensive search for our next HR leader.”

About Wells Fargo

Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies and small businesses in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management. Wells Fargo ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.

News Release Category: WF-LO

View source version on businesswire.com: https://www.businesswire.com/news/home/20210415005691/en/

FAQ

Who is the new interim head of Human Resources at Wells Fargo?

Kleber Santos has been appointed as the interim head of Human Resources at Wells Fargo.

When will David Galloreese leave Wells Fargo?

David Galloreese will leave Wells Fargo on April 23, 2021.

What role did David Galloreese play at Wells Fargo?

David Galloreese was the head of Human Resources, contributing to significant organizational changes since 2018.

Why is there a change in the Human Resources leadership at Wells Fargo?

David Galloreese is leaving for a role outside the company, prompting the search for a new HR leader.

What impact might David Galloreese's departure have on Wells Fargo?

Concerns about continuity in HR management may arise due to the departure of a key leader.