April 25, 2017 / 3:12 PM / 2 years ago

Wells Fargo pauses annual meeting due to unruly shareholder

FILE PHOTO: A man walks by a bank machine at the Wells Fargo & Co. bank in downtown Denver, Colorado, U.S. April 13, 2016. REUTERS/Rick Wilking/File Photo

NEW YORK (Reuters) - Wells Fargo & Co’s (WFC.N) management ejected an unruly shareholder from the bank’s contentious annual meeting on Tuesday after an extended period of argument and what the chairman characterized as a “physical approach” to a director.

Multiple shareholders stood and yelled at the board of directors and Chief Executive Tim Sloan. The shareholders were angry about the bank’s creation of as many as 2.1 million phony accounts in customers’ names.

“You’re saying we’re out of order. Wells Fargo has been out of order for years!” the ejected shareholder said. Sloan and Chairman Stephen Sanger repeatedly asked him to sit down because he was out of order, and then called a recess, only to have other shareholders stand and yell.

Reporting by Dan Freed in Ponte Vedra Beach, Florida; Writing by Lauren Tara LaCapra; Editing by Chizu Nomiyama

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