This is not a defense of Wells Fargo. This is a clarification for people who are new to investing. The owners of any company are the shareholders. The management works for them. So, if you own one share of WFC, you are a co-owner of Wells Fargo. The management is accountable to you.
That being said, there always should be decorum in these meetings. You can’t have a free-for-all. People pride themselves in their strength of “being blunt” or “telling it like it is”; however, 3 year olds have this “strength”. In truth, it is really the lack of control on emotions, and this is really a weakness, especially in business.
True strength is learning the art of tact…which is: how to present your real thoughts in a way that the counter-party will listen and internalize the message.
I would venture that this shareholder’s message was completely lost on the Management. But it makes for a great media story.
Wells Fargo’s annual meeting was halted by an outburst from an angry investor who demanded answers from the board of directors. A second outburst followed.