Citigroup (C) Pandit Memo to Employees
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October 17, 2012 9:30 AM EDT
Citigroup, Inc. (NYSE: C) managers are said to be holding calls to discuss changes with teams, according to CNBC this morning. Shares are indicated higher early.... More
October 16, 2012 11:56 AM EDT
Citigroup, Inc. (NYSE: C) Board said to have ousted Pandit over poor execution, according to Bloomberg headlines.... More
October 16, 2012 10:31 AM EDT
On Bloomberg Surveillance, former FDIC chairman Sheila Bair said the exit of Citigroup (NYSE: C) CEO Vikram Pandit is "very positive."
"This was a very positive move and the board discharged its responsibilities and I think they should be commended," Bair said. "I did have concerns about... More
October 16, 2012 9:48 AM EDT
Citigroup's (NYSE: C) new CEO Michael Corbat issued a memo to employees after he was tapped for the top job after Vikram Pandit surprisingly stepped down.
Dear Colleagues:
I am both humbled by the confidence the Board has placed in me, and excited by the prospect of working closely with our management team and the Board to take our Company forward. Together with our talented employees around the world, I am confident that we... More
October 16, 2012 9:23 AM EDT
Hear that? That's the sound of millions of Citigroup (NYSE: C) investors high-fiving all at once.
Earlier Tuesday, Citi CEO Vikram Pandit announced he would be stepping down. The news came as a shock to many, with Pandit giving no prior indication... More
October 16, 2012 8:10 AM EDT
The Board of Directors of Citigroup today announced that Vikram Pandit has stepped down as the Companys Chief Executive Officer and as a member of the Board, effective immediately. The Board also announced it has unanimously elected Michael Corbat CEO and a director of the Board. Mr. Corbat previously served as Citigroups CEO of Europe, Middle East and Africa.
Mr. Pandit said: Thanks to the dedication and sacrifice of people across Citigroup, we have emerged from the financial crisis as a strong institution. Citigroup is well-positioned for continued profitability and growth, having refocused the franchise on the... More
