Wells Fargo & Co general counsel James Strother, who planned to retire at the end of this year, will stay on indefinitely as top lawyer in order to deal with the aftermath of the bank’s recent fake accounts scandal. Strother turned 65 earlier this year, triggering the company’s mandatory age-based retirement policy for members of the operating committee.
“In light of recent events, the decision has been made to have Jim Strother remain with the company and continue to serve as our general counsel, and Jim has agreed to do so,” Peter Gilchrist, a Wells Fargo spokesman, said in a statement. “A search is commencing for his successor,” Gilchrist added.
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