(Reuters) -Major U.S. lender Wells Fargo said on Thursday its board of directors intends to appoint CEO Charlie Scharf as chairman.
The move comes after Scharf led Wells Fargo to be released from a punitive, seven-year-long $1.95 trillion cap on its assets last month.
The board also awarded Scharf a one-time special equity grant consisting of $30 million in restricted share rights and stock options.
(Reporting by Ateev Bhandari in Bengaluru; Editing by Leroy Leo)
Brought to you by www.srnnews.com