Charles W. Scharf has been chief executive officer and president of Wells Fargo & Company, and a member of its Board of Directors, since October 2019, its been 5 years!
Oct 25th, 2019 - stock price $51.57 adjusted for inflation $63.08
Sept 11th, 2024 - stock price $53.13
$53.13/$63.08 = Charlie lost shareholders 16% of their capital
He gets paid $29,000,000/yr or like $150,000,000 over these last 5 years to lose about 16% in shareholder capital. If anyone at this company had stats like this they would be fired.
Charlies solutions: don't promote people, hire friends, mass offshoring of America jobs, don't provide extra 401k matches, cut back on medical coverage and increase rates, don't provide stock, treat people like expendable trash.
Company is worth close to book. Easy solution is to fire Charlie and sales chunks of the company off.