Wells Fargo Lifts CEO Scharf’s Pay to $31.2 Million for 2024

Wells Fargo & Co. increased Chief Executive Officer Charles Scharf’s pay to $31.2 million for 2024, a year in which the bank entered a key phase of its effort to escape a Federal Reserve shackle on its assets.

The compensation package, up 7.6% from the $29 millionhe earned in 2023, comprised of a base salary of $2.5 million and $28.7 million in incentives, according to a filing.

Charles Scharf

Photographer: Al Drago/Bloomberg

“In reaching this decision, the board noted Mr. Scharf’s strong leadership in making significant progress in strengthening the company’s risk and control infrastructure, which remains the company’s number-one priority,” ...