Wells Fargo Faces Angry Shareholders; Will Target Take Heat from Investors as Well? ⋆ American Lens

Wells Fargo Faces Angry Shareholders; Will Target Take Heat from Investors as Well?

Irate Wells Fargo shareholders made their voice heard quite literally at the company’s annual meeting on Tuesday. Fox Business reports “the meeting was interrupted several times” and some investors were escorted out for causing disruptions and shouting.

Wells FargoThe shareholders, who narrowly voted to re-elect the board of directors, have good reason to be angry.

Revelations that the bank created millions of fraudulent accounts without customers’ permission led to a public relations firestorm and slumping stock prices for much of 2016.

An article by CNBC indicates votes for the directors range from 53% to 99% in favor of reelection. However, an expert on corporate governance believes “directors who win with less than 80 percent support should consider exiting the board.”

If they’re below 80 (percent) I’d say they have a lot of soul-searching to do.

We have to wonder if a similar scenario could play out at the Target Corporation’s annual meeting later this year.

Target’s stock price plummeted over the past year after the company announced a controversial policy allowing men to use women’s restrooms and fitting rooms based on how they identify.

The response by millions of shoppers deciding to take their business  #AnywhereButTARGET has had a devastating impact on revenues and investors should be concerned that Target shares have lost roughly $15 billion in value, all in the name of embracing the LGBT political agenda.

Follow these links to see where Wells Fargo and Target stand on all the issues in our company database.

This article was originally published at 2ndVote.com.

Facebook Comments

mm
2ndVote

2ndVote is the conservative watchdog for corporate activism. 2ndVote conducts extensive research on the policy positions taken by companies and non-profits through direct advocacy and financial support. For more information visit www.2ndVote.com or follow 2ndVote on Twitter @2ndvote and on Facebook at facebook.com/2ndvote.

No Comments Yet

Comments are closed

14 Shares
x