Walking with one foot in your mouth is hard. Plant the other in a pit of quicksand and you’re pretty well stuck.
That’s the position Wells Fargo
Scharf, whose last name in German means sharp, managed to say something sharp in meaning and anything but sharp in presentation or timing. A slew of criticism broke forth. As did a corporate press release on Wednesday:
Some of you may have seen media stories referencing a comment on diverse talent from my June “Our commitment to change” memo. I apologize for making an insensitive comment reflecting my own unconscious bias. There are many talented diverse individuals working at Wells Fargo and throughout the financial services industry and I never meant to imply otherwise. I’ve worked in the financial services industry for many years, and it’s clear to me that, across the industry, we have not done enough to improve diversity, especially at senior leadership levels. And there is no question Wells Fargo has to make meaningful progress to increase diverse representation. As I said in June, I have committed that this time must be different.