Inspiring CEO - John Stumpf

John Stumpf is the CEO of Wells Fargo.  He leads one of the largest banks and financial services companies in US. It is said that he is respected for his leadership performance and honesty. During 2008 financial crisis, he send letters to the shareholders, where he said, “We made some mistakes but kept our credit discipline...It will be a rough year for our economy and our industry. Consumer loans will continue under stress, chargeoffs [uncollectible debt] probably will continue to rise." Wells Fargo has preform and progress stronger than most other banks from the financial crises.  In my opinion, John Stumpf has demonstrated what a good leader and CEO he is. No one or nothing is perfect but overcoming your mistakes and doing something about it shows a lot about your character. John Stumpf has shown care for Wells Fargo. Before the recession 2008, he was elected to Wells Fargo’s Board of Directors in June 2006, the  Chief Executive Officer in June 2007, and has been President since August 2005. John Stumpf  became the Chairman for Wells Fargo & Company in January 2010.

Factors from Los Angeles Times and Guardian.co.uk and Executive Pay Watch:

• He received $11.4 million in 2007
• Stumpf received $9 million in total compensation in 2008
• Stumpf's base salary increased 17% in 2008 to $878,920
• His pay package declined in 2008 because he received no non-equity incentive plan compensation in 2008, compared with the $4.2 million he received in 2007.
• Other pay, including such items as company contributions to retirement accounts and relocation expenses, declined 45% to $242,167 during the year 2008
• Stumpf's personal pay package is asharp increase on his $9m earnings a year ago and his remuneration of $11.5m before the credit crunch began in 2007
• In 2009, Salary:5,600,000; Stock Awards: 13,083,000; Pension: 2,584,000; other Compensation 72,786
• He earned $18.7m  after executive pay disclosures by the top US banks 2010

In my opinion and as you can see Mr. Stumpf is doing pretty well! Maybe this is the KEY FACTOR why he is motivated for Wells Fargo to keep succeeding! I would be too!