Tim Sloan resigned, following the market closed, as chief of the scandal-plagued Wells Fargo even though he delivered a quarter that exceeded expectations, CNBC's Jim Cramer said Thursday.
The stock closed up 0.66 percent on the session, and jumped as much as 3.3 percent after the announcement. Sloan became CEO in 2016. Index funds, as promoted by the late John Bogle, typically beat most individual money managers in the long run, but Cramer said some stocks are popping as the major averages make little noise."Starting with the Lyft IPO, I think individual stock picking is going to start making a bit of a comeback. I sense the excitement, the possibilities, but don't leave it to just the IPOs," the "Mad Money" host said.
Executive Chairman Richard Daly told Cramer there are changes coming to proxy voting, where shareholders vote on major decisions facing a company, and how voters can access information.
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