Wells Fargo shareholders reject calls to oust Sloan and vote to support board at annual meeting [Los Angeles Times (CA)]
Wells Fargo & Company (WFC)
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Source: Los Angeles Times
Wells Fargo shareholders reject calls to oust Sloan and vote to support board at annual meeting A year ago, Wells Fargo & Co. shareholders voted in droves against some of the bank's longest-serving board members, a revolt sparked by the scandal over unauthorized bank accounts. But 12 months later, even as outrage against the bank continues in the wake of new enforcement actions, shareholders stood with the company. At Wells Fargo's annual meeting Tuesday at a hotel in Des Moines, Iowa, investors overwhelmingly voted to elect the company's slate of directors, signed off on the bank's executive pay and rejected a proposal that would have required the bank to report on risks associated with its compensation practices. All 12 directors — many of them recent additions to the board — who stood for election received nearly 90% of shareholders votes, according to preliminary results released at the close of the meeting. That's a blow to bank critics, including protesters who marched outside t
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