"As we pivot from the pandemic, in a position of strength, we are aligning our organization to maintain momentum in the dynamic markets we serve around the world," Wells Fargo noted in a statement.
Earlier this year, Wells Fargo told its staff it was decentralizing the marketing department, opting for a marketing lead for each division rather than a single CMO to oversee all.
It is unclear when Lacorazza, who took over from Jamie Moldafsky following his September 2020 departure, will officially step down.
