FT.com / Companies – Pandit purchases Citi shares


News of Mr Pandit’s stock purchase, which adds to the 1m in restricted shares he was awarded in December, came as Citi moved to quash a boardroom revolt over Sir Win Bischoff, its chairman.

The 15-strong board issued a statement backing Sir Win and denying a report in The Wall Street Journal that some directors wanted to replace him with Richard Parsons, Time Warner’s chairman and Citi’s lead director.

But people familiar with the situation said some directors did consider replacing Sir Win, accusing him of inadequate oversight of Mr Pandit.

via FT.com / Companies – Pandit purchases Citi shares

zyakaira notes:

It seems to be a travesty that Mr Pandit is buying at a time when the shares are bound to fall(from the investors’ pooint of view) . I wouldn’t want to purchase a falling share either and employee plans need to provide that flexibility. Weill is the investor, Pandit is an employee.

However, executive compensation needs to tie in the CEO’s performance to the bank’s performance definitely and Pandit’s commitment does mean a lot to potential investors in Citi. IT’s about time Citi turned around as a scrip and this is a good foreboding.

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About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on November 14, 2008, in Bank Stocks, Financial Markets, Global, India, US and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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