Wells Fargo CEO: There is a very limited pool of black talent to recruit from

[Digital Puppy]

What the?!?!?

Wells Fargo & Co Chief Executive Charles Scharf exasperated some Black employees in a Zoom meeting this summer when he reiterated that the bank had trouble reaching diversity goals because there was not enough qualified minority talent, two participants told Reuters.

He also made the assertion in a company-wide memo June 18 that announced diversity initiatives as nationwide protests broke out following the death of George Floyd, an unarmed African-American man, in police custody.

"While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of black talent to recruit from," Scharf said in the memo, seen by Reuters.

...

But several Black senior executives across corporate America said they are frustrated by claims of a talent shortage, and called the refrain a major reason that companies have struggled to add enough racial and ethnic diversity to leadership ranks, despite stated intentions to do so.

"There is an amazing amount of Black talent out there," said Ken Bacon, a former mortgage industry executive who is on the boards of Comcast Corp, Ally Financial Inc and Welltower Inc. "If people say they can't find the talent, they either aren't looking hard enough or don't want to find it."

Bacon said he was "shocked and puzzled" by Scharf's comments.

Full article here:https://www.nbcnews.com/a/nbcblk/wells-fargo-ceo-ruffles-feathers-comments-about-diverse-talent-n1240739

[Massacure]

1. Wells Fargo is a big company

If there isn't enough talent out there, maybe Scharf should nurture and grow it from within. Or he could act like an asshole; oh wait... he already has.

[redstatebluegirl]

2. What a total racist moron.

This company is an embarrassment, they have cheated their customers for years. Been fined more than almost any other financial entity which says a lot.

[Boomer]

3. Funny how "qualifications" work

CEOs don't have any problem finding plenty of mediocre white guys to stuff in managerial jobs because they became friends on the golf greens or they're the son-in-law of friends. Think of all the board members who collect their salaries but don't really do much of anything. Based on the scandals at Wells Fargo, they had more than their share of complacent, inept or just plain uncaring executives and board members. Why not let some black and brown people do the same crappy job for good money. Why the sudden concern for "qualifications" that no one cared about before?

[Alacritous Crier]

4. +1000

[Kind of Blue]

5. Hear! Hear!