Photo: Wells Fargo
Wells Fargo CFO Howard Atkins just resigned and is probably going to get $22 million for doing so, according to Bloomberg.He’ll have to wait until August to get some of the cash, because that’s when he “officially” retires (right now he’s on a unpaid leave of absence until August 6th) but obviously it will be worth the wait.
In August Atkins should pocket about $9.25 million in deferred compensation and pension benefits, Bloomberg reports.
Then he may get another $13.2 million in restricted stock and options that will vest over the next few years.
Atkins suddenly quit the bank this week after almost 10 years with the firm. Wells says that Atkin’s abrupt resignation “is unrelated to the company’s financial condition or financial reporting.”