Citigroup (C) CEO Pandit's $10M Question: 'Who Will Be My Successor?'
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Price: $50.27 -1.43%
Overall Analyst Rating:
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Dividend Yield: 0.1%
Revenue Growth %: +5.6%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 0.1%
Revenue Growth %: +5.6%
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Citigroup's (NYSE: C) CEO Vikram Pandit hasn't announced his intention to retire yet...but that doesn't mean he can't start looking for a successor.
According to the WSJ, Citi and Pandit are doing just that. For Citi, it ensures a smooth transition for its top position; for Pandit, it means more pay. For Pandit to receive about $10 million in deferred stock, one of his requirements is to find a successor.
At 55, Pandit has said he isn't planning to retire yet, but rather stay for several more years to ensure that Citi is on better ground. With the financial crisis largely past the bank, Pandit can now focus on longer-term issues such as succession.
Potential candidates the WSJ lists include EMEA head Mike Corbat, securities and banking chief Jamie Forese, and private bank head Jane Fraser. The real list, however, is likely longer.
One Citi spokesperson commented to the WSJ: "One of Citi's highest priorities is ensuring there are succession plans in place for leadership roles throughout the company."
Shares of Citi ended the session Thursday down 2.2 percent.
If you'd like a shot at CEO, submit your resume/CV with cover letter to:
Citigroup, Inc.
Attn: HR Department
399 Park Avenue
New York, NY 10043
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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According to the WSJ, Citi and Pandit are doing just that. For Citi, it ensures a smooth transition for its top position; for Pandit, it means more pay. For Pandit to receive about $10 million in deferred stock, one of his requirements is to find a successor.
At 55, Pandit has said he isn't planning to retire yet, but rather stay for several more years to ensure that Citi is on better ground. With the financial crisis largely past the bank, Pandit can now focus on longer-term issues such as succession.
Potential candidates the WSJ lists include EMEA head Mike Corbat, securities and banking chief Jamie Forese, and private bank head Jane Fraser. The real list, however, is likely longer.
One Citi spokesperson commented to the WSJ: "One of Citi's highest priorities is ensuring there are succession plans in place for leadership roles throughout the company."
Shares of Citi ended the session Thursday down 2.2 percent.
If you'd like a shot at CEO, submit your resume/CV with cover letter to:
Citigroup, Inc.
Attn: HR Department
399 Park Avenue
New York, NY 10043
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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