- Thomson Reuters
Recently retired Wells Fargo CEO John Stumpf has resigned as a board member of Target and Chevron.
Regulatory filings from both companies on Tuesday contained the news.
“Mr. Stumpf resigned for personal reasons and not as a result of a disagreement with Chevron,” the energy company’s filing said.
Target did not cite a reason.
Wells Fargo last week announced Stumpf’s retirement from the bank after a scandal erupted over the improper opening of more than 2 million fake accounts between 2011 and 2015. He had served at the bank for 34 years.
Stumpf’s departure from Wells Fargo came just two weeks after lawmakers, most notably Sen. Elizabeth Warren, called for his resignation. Lawmakers had also suggested splitting the roles of chairman and CEO.