By now you’ve probably seen Wells Fargo CEO John Stumpf on TV being pummeled by Senator Elizabeth Warren and others. He is this fall’s corporate pinata.
Actually, what’s happening now reminds me of this scene from Airplane.
He is an easy target. Senators and congressmen are lined up to take a shot.
Stumpf’s had more money than I’ll make in a lifetime removed from his compensation and more public shaming and ridicule than anyone should endure. It’s not enough. Not even close.
Here’s what he did. Please tell me if this has happened at your place:
The big boss sends an edict from above which just can’t be accomplished with current staffing. So, people work off-the-clock or fudge part of the job or in Wells Fargo’s case, cheat, lie and steal.
Wells Fargo’s staff was driven hard to make what many felt were unreasonable goals. Failure to perform might get you canned.
The people who committed these crimes should be punished — but so should those who relentlessly drove them to do it! Stumpf is the responsible party for these crimes. He should be tried on criminal charges.
We need to see more senior management held accountable.
Everyone wants credit when it goes their way then hides when it doesn’t.