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Wells Fargo CEO Apologizes for ‘Limited’ Black Talent Remark

  • Scharf says ‘insensitive’ comment showed ‘unconscious bias’
  • He has pledged to boost diversity among bank’s top ranks
Charles Scharf
Charles ScharfPhotographer: Andrew Harrer/Bloomberg
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Wells Fargo & Co. Chief Executive Officer Charlie Scharf has landed in hot water over comments he made three months ago that tied the struggle to find experienced Black executives to a limited talent pool.

After a news report Tuesday resurfaced the remarks, Scharf initially issued a statement on Twitter, saying his comments from June were “misinterpreted.” After the ire intensified online overnight with critics ranging from Congresswoman Alexandria Ocasio-Cortez to comedian D.L. Hughley, Scharf delivered a mea culpa to all of the bank’s 266,000 employees.