Shareholders and their representatives, both during their interruptions of Parker’s remarks and the portion of the meeting reserved for investor comments, criticized Wells Fargo over the bank’s sales-practice scandals and pressed executives and directors on issues including supporting low- and moderate-income consumers and financing oil and gas companies. Some attendees thanked company leaders for the bank’s philanthropic work.
One speaker said she’s a former employee who left Wells Fargo over corruption at the bank. Parker responded that changes have been made since her departure “to make sure inappropriate things do not occur” at Wells Fargo.
Among the speakers was activist Bruce Marks, who, during the annual meeting two years ago, was escorted out by security after shouting without a microphone, demanding directors explain what they knew about abuses at the bank. On Tuesday, he asked for Wells Fargo’s commitment to discuss a program to support auto consumers.
Parker said he’d be happy to talk about the issue with him. And in a rare moment of levity, another activist yelled that Marks should become the next Wells Fargo CEO, eliciting laughs from attendees.
This article provided by Bloomberg News.