Vikram Pandit to Step Down as Citigroup CEO – Yahoo! Finance

Citigroup tapped Michael Corbat as its new CEO Tuesday after Vikram Pandit stunned Wall Street by stepping down from the helm of the banking giant.

Looks like there will be bad things happening shortly. 

Citigroup tapped Michael Corbat as its new CEO Tuesday after Vikram Pandit stunned Wall Street by stepping down from the helm of the banking giant.

The shock change at the top of the bank came just one day after Citigroup posted surprisingly strong quarterly results.
Pandit also resigned from the bank’s board of directors, effectively immediately. President and Chief Operating Officer John Havens resigned as well.
Corbat was formerly the chief executive of Citi’s Europe, Middle East, and Africa division.
Pandit’s resignation caught industry watchers by surprise. CNBC has learned that officials at the Treasury Department were also unaware that a change in Citi leadership was imminent.

via Vikram Pandit to Step Down as Citigroup CEO – Yahoo! Finance.

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