Page 79 - Flip Banks TG

Compensation model resulted in making the
company’s core values redundant

Violations at High pay disparity between top executives and Governments have
employees abrogated
banks have
Should Stumpf operate as both CEO and responsibility to
become Chairman?
the banks. Change
common as
will take time.
people
involved in
them rarely
face criminal

charges.

Industry operated Due diligence
in oligopolistic within WF had

fashion in effect
collapsed

Managers actively
Employees regularly coached workers on
expected to force how to inflate sales

“unneeded and Senior management Banking environment numbers. - Managers

unwanted” products set aggressive sales lacked checks & were highly
on customers to satisfy target. controls whilst WF’s compensated for
sales goals. - If Received huge compensation model hitting performance
employees didn't meet performance bonuses served as driving force targets

the quotas, they lost and increase in bank’s for unethical
their jobs profits. behaviour