BREAKING: Wells Fargo CEO Sloan ousted

Head of Charlotte's 2nd largest employer 'retires' after 3 years on job

Wells Fargo has dumped CEO Tim Sloan, who was at the helm of the bank for the last three years and tried to pull it through its recent string of scandals.

Taking his place: Wells Fargo general counsel Allen Parker, who will serve on an interim basis.

Here’s CBS News:

Wells Fargo CEO Tim Sloan is stepping down as CEO of the country's fourth-largest bank and will retire at the end of June, the bank said Tuesday. He is 58, according to FactSet.

Allen Parker, Wells fargo's general counsel, is taking over as interim CEO and president. The bank is searching externally for a new permanent CEO, it said in a statement.

Wells Fargo has been roiled by a series of scandals since revelations in 2016 that its employees created thousands of fake accounts without customers' knowledge. That scandal pushed out then-CEO John Stumpf and elevated Sloan to the leadership job in October 2016.

There will be coverage all over the place. More in tomorrow morning’s Charlotte Ledger.