Vikram Pandit steps down as CEO of Citigroup; bank names executive Michael Corbat as new chief

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Vikram Pandit steps down as CEO of Citigroup; bank names executive Michael Corbat as new chief

Vikram Pandit steps down as CEO of Citigroup; bank names executive Michael Corbat as new chief

WAPO-

Vikram Pandit stepped down as CEO of Citigroup on Tuesday after steering the bank through 2008 financial crisis and the choppy years that followed.

Pandit’s replacement as CEO is Michael Corbat, the current CEO of Citigroup’s Europe, Middle East and Africa division, the bank said. Corbat has worked at Citigroup and its predecessors since he graduated from Harvard in 1983, it said.

Pandit will also relinquish his seat on Citi’s board of directors. And a second top executive also resigned as part of the shake-up: President and Chief Operating Officer John Havens, who also serves as CEO of Citi’s Institutional Client Group.

[WASHINGTON POST]

image: thelinkpaper.ca

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One Response to “Vikram Pandit steps down as CEO of Citigroup; bank names executive Michael Corbat as new chief”

  1. Sarah says:

    Steering the Bank? Must have learned the “steering” technique from Robert Rubin.

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