Outstanding Achievement Award Recipient
Carlson School of Management, September 22, 2011
John G. Stumpf, native of Pierz, Minnesota, received a master of business administration from the Carlson School of Management at the University of Minnesota in 1980. After completing his masters, he joined Norwest Corporation, predecessor of Wells Fargo, as loan officer. Demonstrating a strong work ethic and leadership skills he was soon promoted to senior vice president and chief credit officer for Norwest Bank Minneapolis. After being chosen to lead several banking divisions within Wells Fargo & Company, he was named chairman and president of Wells Fargo & Company in 2005, chief executive officer in 2007 and in 2010 he was named chairman, president and CEO. Today he runs a company with $1.2 trillion in assets, with 280,000 team members across the United States, and earns well over $10 billion a year. Wells Fargo & Company is ranked as one of the world's 25 most admired companies in a survey by Barron's magazine and is also ranked by Business Week in the top five of all corporations in the United States in terms of annual contributions to not-for-profit organizations. He is engaged in a number of other civic and business boards including Target Corporation, The Clearing House, the Financial Services Roundtable, and Chevron Corporation. He is an active Board of Trustee member of the San Francisco Museum of Modern Art and Junior Achievement of Northern California. He often returns to Minnesota to speak to current students about his career and what he calls his "story of absolute good fortune." In addition, he served on the Carlson School of Management Board of Overseers until he had to resign to lead the merger between Wells Fargo & Company and Wachovia.
Biographies are as-of time of award presentation.