C. Allen Parker served as the Interim CEO of Wells Fargo in 2019, stepping in during a crucial leadership transition. He earned a total compensation of $8.3 million that year, which included a salary of $1.78 million and a performance...
C. Allen Parker served as the Interim CEO of Wells Fargo in 2019, stepping in during a crucial leadership transition. He earned a total compensation of $8.3 million that year, which included a salary of $1.78 million and a performance bonus of about $1.29 million. Parker had a noteworthy background as the Senior Executive Vice President and General Counsel at Wells Fargo, where he played a significant role in corporate governance and risk management. Before joining Wells Fargo, he worked for Cravath, Swaine & Moore LLP, a top law firm, from 1984 to 2017, reaching senior leadership positions there. He left Wells Fargo in March 2020, shortly after his interim role ended and Charles Scharf took over as CEO. Even though his time as CEO was brief, he was instrumental in steering the bank through a challenging period. At the time of his departure, the value of his financial holdings was around $2.37 million, primarily in restricted share rights. This reflects his alignment with the bank’s pay-for-performance philosophy, which connects executive pay with the company's overall performance and risk management. Parker’s extensive legal experience stands out, highlighting a blend of legal expertise and corporate leadership that is vital in the banking sector.