Top Leaderboard, Site wide
Left Masthead
October 10, 2015
Truthdig: Drilling Beneath the Headlines
Sign up for Truthdig's Email NewsletterLike Truthdig on FacebookFollow Truthdig on TwitterSubscribe to Truthdig's RSS Feed

Chaos Is the GOP’s New Normal

Primo Levi, Complete

Truthdig Bazaar
A Bush and Botox World

A Bush and Botox World

Saul Landau

more items

Ear to the Ground
Print this item

Pandit Steps Down as Citigroup CEO

Posted on Oct 16, 2012
World Economic Forum (CC BY-SA 2.0)

Vikram Pandit.

In a development that may please Truthdigger of the Week Sheila Bair, Vikram Pandit, the man who was in charge of the megabank Citigroup during the financial crisis, left his job abruptly and with little explanation on Tuesday.

As chair of the Federal Deposit Insurance Corp., Bair lobbied to have Pandit fired during the fallout of the crisis in the belief that he would not rein in the company’s reckless investment gambling. Pandit had earned $261 million during his six-year tenure as CEO.

—Posted by Alexander Reed Kelly.

The Guardian:

The US investment bank said on Tuesday Pandit had stepped down as chief executive and left the company’s board with “immediate effect”.

Citi said Pandit will be replaced by Mike Corbat, the bank’s current head of Europe, the Middle East and Africa.

Pandit said it was “the right time for someone else to take the helm at Citigroup” after the bank “emerged from the financial crisis as a strong institution”.

Read more

More Below the Ad


Square, Site wide

New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

Right 1, Site wide - BlogAds Premium
Right Skyscraper, Site Wide
Right Internal Skyscraper, Site wide
Right 2, Site wide - Blogads
Join the Liberal Blog Advertising Network

Like Truthdig on Facebook