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former WF CEO Tim Sloan Sloan was promoted to the top job in October 2016, when John Stumpf stepped down amid intense blowback over the revelation that employees had opened millions of fake accounts to meet sales goals. (Photo: Bloomberg)

(Bloomberg) –Wells Fargo & Co. Chief Executive Officer Tim Sloan gave in to critics and abruptly stepped down, after the 31-year company veteran struggled to tame a range of scandals, launching the fourth-largest U.S. bank into a hasty search for a successor.

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