If anyone deserves a $6.7 million bonus, it’s the CEO who squandered 88% of his company’s stock value: Vikram Pandit isn’t getting a golden parachute, but he’s still not doing too badly. Citigroup said Friday that the former CEO, who resigned last month in a management shakeup, will receive an “incentive award” of $6.7 million [...]
|By: David Dayen Monday November 12, 2012 9:15 am|
|By: David Dayen Wednesday October 17, 2012 12:19 pm|
I don’t know if Vikram Pandit wants to cite Maria Bartiromo in his list of reasons why he stepped down as head of Citigroup, but it certainly rings true as a general Wall Street titan complaint. Let’s face it, we have an individual here who sold his hedge fund to Citi for $800 million, taking [...]
|By: David Dayen Tuesday October 16, 2012 7:13 am|
Vikram Pandit, the CEO of Citigroup, who presided over some of the worst years in the history of the bank, abruptly stepped downtoday. He will be replaced by longtime Citi executive Michael Corbat. Here’s Pandit’s statement.
|By: David Dayen Tuesday April 17, 2012 12:56 pm|
I have mentioned that we will see a wave of shareholder activism this spring, with direct action challenges to the biggest corporations in America. This outcome at the Citigroup meeting in Dallas is one of the first fruits of that plan. Citigroup‘s shareholders rejected the bank’s plan to award its chief executive, Vikram S. Pandit, [...]