Good news! Citigroup have just appointed their CEO and they have maintained the roles of CEO and Chairman in separate hands.
As we have said on numerous occasions, these roles are different, both are necessary and they should be handled by different professionals.
This is the correct decion and Citigroup should be congratulated for this good governance!
Onésimo Alvarez-Moro
See article:
Citigroup has named the head of its investment banking division, Vikrum Pandit, to be its new chief executive.
He will replace Charles Prince, who quit last month after admitting that the bank could be exposed to as much $17bn (£8.3bn) in bad debt.
Sir Win Bischoff, who had been the interim chief executive, will become Citigroup's chairman.
Both men will be under huge pressure to rebuild Citigroup's balance sheet and repair the troubled bank's reputation.
See full Article.
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