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Wells Fargo CEO apologizes for
comments about diversity

Original Article

Posted By: Ribicon, 9/23/2020 2:18:00 PM

New York—Wells Fargo CEO Charles Scharf apologized Wednesday for comments he made about the difficulty of finding qualified Black executives. Scharf said that "there is a very limited pool of Black talent to recruit from" in corporate America. The memo to employees was written in June, but became public this week. The comments and similar statements made in a Zoom meeting, reported by Reuters, led to an intense backlash in Washington and on social media.(Snip) Citigroup announced on the same day as Scharf's apology that it would direct $1 billion of the firm's capital toward closing the "racial wealth gap" in the United States.


Scharf will deploy his golden parachute and drift away to a lavish retirement, poor boy.

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Reply 1 - Posted by: Northcross 9/23/2020 2:23:57 PM (No. 549986)
What a pathetic jackwagon. First he stupidly tells the truth about minority qualifications. Second, he apologizes for telling the truth.
15 people like this.

Reply 2 - Posted by: stablemoney 9/23/2020 2:29:05 PM (No. 549989)
I really think CEO's would be better off if they shut their mouths. They say something, then have to say volumes more backing out of what they said. Just shut up and run your businesses. If you look at Wells Fargo, it is a mess, so apparently leadership is spending too much time talking, and not enough time running their businesses.
8 people like this.

Reply 3 - Posted by: rockeysroomie 9/23/2020 2:37:26 PM (No. 550000)
I wish I could slam dunk.
1 person likes this.

Reply 4 - Posted by: Lawsy0 9/23/2020 2:49:24 PM (No. 550029)
Coming to us from Woken Broken, NY. Those who really care can meet up on the corner of Walk & Don'tWalk, N.E., to cry and hold hands. I can remember when Wells Fargo was truly Big Ass Pete.
1 person likes this.

Reply 5 - Posted by: Toby Ten Bears 9/23/2020 2:50:02 PM (No. 550031)
Grovel. Appease. Has anyone noticed what that gets you? Are you stupid?!?!
6 people like this.

Reply 6 - Posted by: fishbone 9/23/2020 2:55:39 PM (No. 550040)
That didn't take long. If you're going to tell the truth, then have the b@!!s to stand up for it. "You can't handle the truth!" (apologies to Jack).
6 people like this.

Reply 7 - Posted by: Jethro bo 9/23/2020 2:57:09 PM (No. 550041)
Its not the qualifications of a person but the color of their skin that matters. One wonders when the commissioner of the NFL and NBA will come out with 'diversity' quotas based on skin color.
4 people like this.

Reply 8 - Posted by: montwoodcliff 9/23/2020 3:15:57 PM (No. 550069)
I demand more racial equity in the NBA, NFL, and MLB! There must be more white talent out there, or are whites busy getting an education first and foremost for a real job.
3 people like this.

Reply 9 - Posted by: Rama41 9/23/2020 3:58:31 PM (No. 550119)
And every Police Chief and Commissioner of State Police in the country have had this problem for years.
5 people like this.

Reply 10 - Posted by: BigGeorgeTX 9/23/2020 4:27:45 PM (No. 550151)
And there lies the essential issue of reverse discrimination, to employees as well as corporations. White males executives need to compete against large pools of comparable talent for the very few jobs available to them after company EEO goals are met. Meanwhile, the requirements for the EEO executive are often that they are an EEO minority with a degree in the field, regardless of their suitability for the position. Most companies will hire them, based essentially on their availability, complexion, and meeting EEO requirements. Yes, there are talented people of all races and genders, but the executive advancement for Caucasian men, notwithstanding alumni cronyism, is far less likely due to the size of the qualified pool of talent available.
2 people like this.

Reply 11 - Posted by: Smart11344 9/23/2020 4:38:45 PM (No. 550165)
A rotten, crooked bank. opened an account there, for convenience. It was righ across the street from where I worked. WF, I found was the equivalent to FB.
3 people like this.

Reply 12 - Posted by: ocho reales 9/23/2020 5:01:36 PM (No. 550192)
If Scharf is being criticized for saying that "there is a limited pool of Black talent to recruit from" then those who are criticizing him for this statement must believe the opposite..i.e that there is an abundant pool of black talent to recruit from and corporate America is too blinded and biased to hire these qualified black people. Am I missing something in the criticism of Scharf?
1 person likes this.

Reply 13 - Posted by: ussjimmycarter 9/23/2020 6:36:41 PM (No. 550309)
And this is why NOBODY of any marketable skill doesn’t want to work for this truly awful bank! A continuation of the Fake Accounts Scandal! Incompetent leadership has always been their hallmark!
0 people like this.

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