Charles Noski

Wells Fargo & Co. said Tuesday that Charles Noski had stepped down as chairman of its board of directors and will be succeeded by Steven Black, a former JPMorgan Chase & Co. executive who joined the board last year. Mr. Noski, a former chief financial officer of Bank of America...

Wells Fargo Chairman Charles Noski is retiring, and he will be succeeded by an industry veteran with ties to CEO Charlie Scharf. The megabank’s board of directors has elected Steven Black as its new chairman, according to a company announcement Tuesday. Wells continues to work through an array of regulatory troubles, and Black is slated to become the company’s fifth board chair in as many years.

Charles Noski has stepped down as Wells Fargo's board chairman and will retire on Sept. 30, the bank said on Tuesday.