Oil major Chevron said it was standing by one of its board members and the chief executive of Wells Fargo & Co despite concerns about leadership related to a customer service scandal.
According to reports, pressure has mounted on John Stumpf in recent days to resign.
It comes amid revelations the bank had for years opened checking, savings and credit card accounts without customer approval to satisfy managers’ demand for new business.
Stumpf had resigned from an advisory role at the US Federal Reserve earlier this month.
A spokesman for Chevron said: “John (Stumpf) is a valued member of our board. Given the investigations that are underway, it would be inappropriate for us to comment further.”
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