https://www.reuters.com/article/us-wells-fargo-compensation-breakingview-idUSKBN2CE2HE
"The banking world’s most thankless job just got more so. Wells Fargo’s executive pay plan won approval on Tuesday from a scant 57% of shareholders, based on a preliminary count at the lender’s annual meeting – a level so low that it’s tantamount to failure. "
Chainsaw got little support for his executive compensation package at tuesdays shareholder meeting.
".... after banks have received so much support from governments, paying the boss 274 times more than the median employee looks callous."
Indeed.
But wait, there's more...
During the shareholder call Charlie faced questions questioning his grotesque pay package, the reputational risk of hiring ao many indians and firing americans in middle of a pandemic, to when is asset cap going to be lifted and the whole host of demoralizing policy changes that threatened frontline employee morale.
All questions were deflected with lots of typical charlisq "Ums" and "its great for the company".
When you come to work every day, dreading your inevitable pink slip, just know he got a pay raise for making your career prospects grave while he earns over 274x you do while sitting in an ivory tower hundreds of miles away, playing sour notes on an electric guitar, and dreaming about his fat pay check.
Work less hard people.