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Vikram Pandit clashed with the board at Citigroup (C) over "strategy and performance," updates...

Vikram Pandit clashed with the board at Citigroup (C) over "strategy and performance," updates the WSJ. David Faber doesn't mince words and says Pandit's "firing" happened in the past 12-24 hours. C now +1.5%. Updated: Details on the clash. (more)
Comments (4)
  • Former Citi Employee
    , contributor
    Comments (6) | Send Message
     
    I guess Vikram didn't like the shareholders' vote that his salary was ridiculous given the stock's performance over the last few years. The reverse split did it for me. Maybe the Board finally realized that the stockholders were fed up. Another grossly overpaid CEO bites the dust.
    16 Oct 2012, 10:39 AM Reply Like
  • Free Markets Rule
    , contributor
    Comments (139) | Send Message
     
    I know it's popular to rage against CEO pay, even though I think it's more than a little displaced anger.

     

    Do people feel similar anger over athletes that earn even more? After all, the CEO is responsible to some degree for how many? 200,000+ employees and the athlete responsible to ??

     

    Would you feel you overpaid someone to manage $2 million of your assets if you paid them $20 a year? I mean, paying someone $20 million a year to manage $2 trillion in assets is the same ratio, right?

     

    Not saying your wrong to feel the way you do. Just trying to keep some perspective.
    16 Oct 2012, 11:21 AM Reply Like
  • Chancer
    , contributor
    Comments (2922) | Send Message
     
    No big loss for Citigroup. He was significantly overpaid for what he brought to the table.
    16 Oct 2012, 02:34 PM Reply Like
  • old dealer
    , contributor
    Comments (9) | Send Message
     
    THE ATHELETE IS RESPONSIBLE TO ALL THE FANS THAT PAYYY SO DEARLY TO WATCH THEM. THE CEO DOES'NT LIVE WITH BROKEN BONES AND USUALLY LIVES LONGER. THEY SHOULD GET ON THE PLAYING FIELD OR COURT AND SEE WHAT ITS LIKE TO GET BEATUP AND KNOCKED AROUND . LOOK AT MOHAMED ALI
    16 Oct 2012, 02:50 PM Reply Like
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