At Wells Fargo’s annual shareholder meeting in April, shareholders voted to re-elect all 15 of the bank’s directors—but barely. In a sign of discontent over aggressive sales practices that have cost the bank U.S.$185 million in fines to date, Wells’ chairman was re-elected with only 56 percent of the vote and its head of the risk committee scraped through with only 53 percent. Compared to the 95 percent or more considered normal for corporate elections, the vote was seen as a “stinging rebuke” to the scandal-ridden bank.
