Sargent’s Company
Preyed on Customers
Ron Sargent has been on the Wells Fargo board for nearly a decade. Under his watch, the bank paid the largest fine ever imposed by the Consumer Financial Protection Bureau for harming millions of American families.
01
For over a decade, Wells Fargo mishandled customers’ auto payments then used the resulting errors as an excuse to repossess their vehicles. Customers whose vehicles were illegally taken were owed a minimum of $4,000 each.
02
Wells Fargo charged customers overdraft fees even when those customers had enough money in their accounts to cover their purchases. The bank also unlawfully froze more than one million accounts, locking customers out of their own money for an average of at least two weeks.
03
For at least seven years, Wells Fargo illegally denied thousands of homeowners' applications to change their mortgage payment terms then wrongfully foreclosed on their homes. Wells Fargo knew this was happening and did nothing.
SCANDALS AT FIVE BELOW
Ron Sargent has been on Five Below's board for over two decades, chairing its Compensation Committee. During that time:
Shareholdersfileda securities fraud class action suit in 2024, alleging the company misled investors about its financial health. The CEO departed shortly after.
The CPSC recalled Five Below products for lead contamination in children's toys and fire and burn hazards.
A class action lawsuit alleged a data breach exposed customer payment and other personal information.
The Michigan attorney general hasaccused Five Belowof mislabeling prices and overcharging customers.
And now he’s at Kroger...
Kroger has spent years building sophisticated surveillance and pricing structures to squeeze as much profit as it can out of shoppers. From electronic shelf labels that can change prices instantly to cameras hidden in store displays and vast profiles built from shoppers’ data, Kroger is watching its customers and ripping them off.
Despite previously promising to switch to better eggs, Kroger continues selling low-quality eggs from filthy, cruel conditions that would make anyone’s stomach churn.
A Kroger executive admitted under oath to gouging prices on milk and eggs above inflation during COVID. Kroger has also been found charging customers higher prices in towns where customers have no other store options.
Kroger "Fed the Flames" of the Opioid Crisis
Kroger dispensed massive quantities of addictive opioids with inadequate oversight, destroying countless lives and entire communities in the name of profit. In Kentucky alone, the state alleged Kroger was responsible for more than 11% of all opioid pills dispensed statewide over 13 years. Kentucky's Attorney General said Kroger "tragically fed the flames of the drug addiction fire that rages across every county" of the state.
Kroger paid $1.4 billion to settle lawsuits by states and local governments. As for Ron? He lives a life of luxury while victims continue to suffer.
Ron’s all
wrong.
Ron Sargent isn't just on Kroger's board. He's the Chairman. Under his leadership, Kroger has faced a price gouging investigation, a failed $25 billion merger blocked by the FTC, mass worker strikes, and lawsuits for wage theft.
Kroger is heading in the wrong direction.
Paid to Look the Other Way
Kroger
Role:
Chairman of the Board
On Board Since:
2006
Annual
Compensation:
Five Below
Role:
Director
On Board Since:
2004
Annual
Compensation:
Wells Fargo
Role:
Director
On Board Since:
2017
Annual
Compensation:
