Morningstar's 2015 CEO of the Year
John Stumpf has successfully steered Wells Fargo through a very difficult industry period and built up the bank's strength while many of its peers languished.
We are pleased to announce that John Stumpf of Wells Fargo (WFC) is the 2015 Morningstar CEO of the Year. He took control of the company in mid-2007, just as the housing market started to collapse, and deftly steered the bank through the financial crisis. While other bank CEOs spent billions to acquire nothing but other banks' financial and legal liabilities, Stumpf saw the value in Wachovia's deposit base and branches, doubling Wells Fargo's footprint at a reasonable price. The company's stock price performance has been outstanding, cumulatively outperforming the S&P 500 by roughly 20% during Stumpf's tenure as CEO--an impressive accomplishment, given the state of the banking industry during this time.
Jim Sinegal does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.