Wells Fargo Holds CEO Scharf’s Pay at $24.5 Million for 2022

Wells Fargo & Co. kept Chief Executive Officer Charlie Scharf’s pay at $24.5 million for 2022, a year in which both profit and stock tumbled and the bank continued to grapple with the fallout from a raft of scandals.

Scharf’s package comprised $2.5 million of salary and $22 million in incentives, according to a filing on Thursday. The CEO asked the board not to give him a raise because of the work left to be completed in overhauling the company.

Still, the panel credited him with addressing risk, control and regulatory issues as well as other improvements to its ...