Citigroup CEO Vikram Pandit Steps Down, Is Well Paid For . . . What Exactly?

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Vikram Pandit

Departing head has earned approximately $261 million in five years

A friend forwarded this to me and advised me to post the following paragraph without comment. This is Bloomberg on the compensation package for departing CEO Vikram Pandit, and we will indeed leave it, as the Russians say, без комментариев:

If no changes are made, Citigroup will have paid Pandit about $261 million in the five years since he became CEO, including his personal compensation and about $165 million for buying his Old Lane Partners LP hedge fund in 2007 in a deal that led to his becoming CEO. The bank shut Old Lane soon after Pandit took the post, causing a $202 million writedown.

 

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