Vikram Pandit – An Indian Born American Banker resigns from the post of CEO of Citigroup.Hello everyone,
The Indian Born American Banker, Vikram Pandit, has resigned from the post of CEO of Citigroup Company which is related to Multinational Financial Services. The resignation happened to be on 16th October 2012. Well the next CEO of Citigroup is now Michael Corbat. The reason behind resignation is not yet clear and there are rumors that the board of directors were questioning about the salary of Vikram Pandit which accounted to be 15 Million USD in the year 2011.
The Citigroup completed 200th year during this years June 2012. It is very important to know that Mr. Vikram Pandit took a salary of mere 1 USD per year since he joined the Citigroup in the year 2007. The Citigroup Company started flourishing under his tenure and till the year 2009 he worked on the same salary of $1 per year.
The boards of directors of Citigroup were against the compensation allotted to Indian Born American Banker, Vikram Pandit and they might have forgotten the fact that he himself asked them to pay mere 1 USD per year till the company flourishes with profit.