When Scharf was hired WFC closed at $50.71. Even adjusted for splits/dividends/distributions it was $46.85.
Now, just over 3 years later, WFC closed at $42.24.
Our dividend is half of what it was when he started.
Why is WF paying this man $20M+/year?
The market tanked across the board during the Covid plandemic. WF stock dropped to $20-something back in Oct 2021. Can't blame it all on Schart.
True OP, but what we need to take into account is that the buying power of the dollar is also about 50% of what it was when the RTOmeister that shall not be named started. So yeah, the performance is much worse than it looks.
It's not because he is a compelling and confident leader or speaker. Maybe because he has great hair?
@1rke Except JPM And BAC have outperformed WF since the start of the pandemic. Oh, and we still have an asset cap, and multiple consent orders are still in effect. You can argue it's the sector, but WF is still trailing it.
Again, why is Scharf so highly compensated when he can't even track even with our supposed peers? We need to stop rewarding privileged white men for mediocrity.
Stock price has more to do with macro economy and speculation than actual performance of a company or how good a job a CEO is doing. Pretty much every stock is back to 2020 levels now due to us being in a global recession and bear market in equities. There are a lot of things you can say about WF but looking to the stock price as some type of indicator of how well they are doing won't tell you much.
Post ID: @qfo+1j4st2Ad
“Charlie creating long term shareholder value….” 😂🤥🤡
Fu----g great question. I would love to know myself.
No banking CEO wanted it, correct.
That might be why the world's greatest investor told them to get a non-banking CEO and then sold all of his WFC when they didn't.
Nobody with talent would take the job.
So it's all about the stock price?!? You're wrong. It should be about creating long term shareholder value. The measure of success is not the price of the stock every day. That's what got this place in trouble in the past with short term thinking.
Perhaps because nobody else wanted to be CEO of this company. Do you remember Stumpf and Sloan leaving rather abruptly? It’s probably not much fun being grilled by Congress over all the scandals and drama.