Shareholder Urges Target to Remove Wells Fargo CEO From its Board

A shareholder of Target on Thursday launched a campaign at the U.S. discount retailer urging it to oust Wells Fargo CEO John Stumpf from its board in a move that comes after the mega-bank continues to face a barrage of criticism over its failure to prevent employees from creating as many as two million unauthorized customer accounts. The shareholder, Aaron Epstein, said in an ad Thursday in the Minneapolis Star Tribune – Target is headquartered in Minneapolis — that the retailer’s founders’ legacy is “endangered” by the presence of Stumpf on its board. “Stumpf may or may not have known of the frauds but as CEO he should have known,” the advertisement said. “To preserve the positive legacy bequeathed to us by our company’s founders, I urge you to do the right thing and seek Mr. Stumpf’s resignation.”

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