UPDATE: Wells Fargo's (WFC) Stumpf to Retire as Chairman and CEO - DJ

October 12, 2016 5:01 PM EDT

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(Updated - October 12, 2016 5:05 PM EDT)

Wells Fargo's (NYSE: WFC) embattled Chairman and CEO John Stumpf will retire and step down effective immediately, according to Dow Jones, citing sources. The report said President and COO Tim Sloan will takeover as CEO.

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