Slow-motion footage of the iconic Wells Fargo stagecoach set to a calming soundtrack sets the scene for the bank's latest attempt to get beyond the scandal that erupted in early September over widespread identity theft.
Wells Fargo chairman and chief executive officer John Stumpf stepped down Oct. 12. Leading up to this announcement he had agreed to forfeit $40 million worth of stock, his annual bonus and part of his salary for the year.
The commercial promises that "Wells Fargo is making changes to make things right" by:
1. Fully refunding all customers who have been impacted.
2. Proactively sending confirmation of any new checking, savings or credit card account opened.
3. Eliminating product sales goals for retail bankers to ensure the customers' interests are put first.
A study released by consulting company cg42, which specializes in brand vulnerability, shows that even though only 3% of Wells Fargo's customers said they were affected by the scandal, 14% are expected to switch away from the bank in the next year to year and a half which could result in a loss of $99B in deposits and $4B in revenues.
Jonathan Halvorson, a veteran of Mondelez, Twitter and GM, is set to take the CMO post at Kenvue as it faces a Texas lawsuit about the about alleged links between its Tylenol and autism.
Cracker Barrel Old Country Store has dumped San Francisco-based Prophet, the creative consultant responsible for its disastrous logo and restaurant refresh.
A cyber incident plays by different rules. And if leaders don’t recognize those differences, their response will falter.
Discover how crisis communications has evolved and why proactive storytelling, digital strategy, and internal alignment are now essential to protecting reputation in a 24/7 media landscape.
Cracker Barrel has called in Edelman for crisis work regarding the backlash surrounding its decision to drop the “old timer” leaning on a barrel from its logo.
