“Ho ho ho, I’m sorry our results were so crappy this quarter, I spent too much time rehearsing for this presentation and not enough, you know, running the company.”

I would suspect it's more a matter of the "JCs" not wanting to be asked questions they don't want to hear. I have related, before, how several of the honchos I worked for wanted to live in an echo chamber, filled with yes-men. The fastest way to end your future prospects at the company was to say something they didn't want to hear. A CEO can go on bubblevision, and be reasonably sure the news actor will follow the script, only asking the questions the honcho wants to be asked. The CEO can't control the questions in a quarterly or annual meeting. I was at a Boeing shareholder meeting, years ago, when a question was asked, that then CEO Frank Shrontz visibly was uncomfortable with. Eliminating quarterly meetings has the same effect as the increasing trend of companies asking the SEC to let them ignore shareholder proposals, rather than putting them in the proxy: elimination of things the CEO does not want to hear.

Steve