BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Credit crunch? Cash still flows for some Citi execs]]>http://www.bloggingstocks.com/2008/03/14/credit-crunch-cash-still-flows-for-some-citi-execs/http://www.bloggingstocks.com/2008/03/14/credit-crunch-cash-still-flows-for-some-citi-execs/http://www.bloggingstocks.com/2008/03/14/credit-crunch-cash-still-flows-for-some-citi-execs/#commentsFiled under: ,

The markets may be seizing and the losses mounting, but some Citibank executives are still hauling in the cash. The New York Times reports that CEO Vikrim Pandit and other top executives were in theory only supposed to receive their salaries in 2007 due to the company''s poor performance to the tune of $20 billion in write-offs.

In reality, however, some executives came home with much more in deferred cash and equity awards in January 2008, much of defended by the compensation committee as "retention pay":

Vice Chairman Lewis Kaden: cash and equity worth $8.3 million, to top off his $500,000 salary;
Investment bank co-head Michael Klein:$19.3 million on a $212,500 salary;
Vice Chairman Steven Volk: $10.3 million non a $212,500 salary.

Others who will not be worried about paying their credit card bills:

Sallie Krawcheck: $2.9 million cash bonus, for a total compensation package of $12.5 million;
Winfried Bischoff: $2 million cash bonus to help his total reach $7.4 million;
CFO Gary Crittenden: cash bonus of $14 million for a grand total of $24.5 million.

Maybe these lucky execs can pool some of their resources that to buy some of the assets that Citibank will have to sell off to return to profitability.

Credit crunch? Cash still flows for some Citi execs originally appeared on BloggingStocks on Fri, 14 Mar 2008 16:13:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CCitigroupexecutive compensationGary CrittendeninthenewsLewis KadenMichael KleinVikrim PanditFri, 14 Mar 2008 16:13:00 EST<![CDATA[Citigroup names a new CFO]]>http://www.bloggingstocks.com/2007/02/26/citigroup-names-a-new-cfo/http://www.bloggingstocks.com/2007/02/26/citigroup-names-a-new-cfo/http://www.bloggingstocks.com/2007/02/26/citigroup-names-a-new-cfo/#commentsFiled under: , ,

Yesterday's report [subscription required] in the Wall Street Journal's website, that Citigroup, Inc. (NYSE:C) is set to name Gary Crittenden as the new CFO has been made official. Crittenden is taking the job of Sallie Krawcheck who left the CFO position when she took the head job of Citigroup's global wealth-management division.

Fifty-two year old Crittenden has extensive experience on Wall Street, most recently at American Express Company (NYSE:AXP) where he is currently the CFO and executive vice president. Prior to joining American Express, he served as CFO of Monsanto, an executive of Sears Roebuck, and a board member of UPS and Staples, according to MarketWatch.

It will be interesting to see how the followers of Citigroup's stock (e.g. analysts, money managers, etc.) respond to this announcement. I expect them to be optimistic because Crittenden has extensive experience as a CFO and could help Citigroup turn the company around as well as help manage the current rate environment.

Citigroup shares are up 0.46% to $54.02 in pre-market trading as of 8:35 a.m.

Citigroup names a new CFO originally appeared on BloggingStocks on Mon, 26 Feb 2007 09:12:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>axpccitigroupGary CrittendenGaryCrittendenSallie KrawcheckSallieKrawcheckMon, 26 Feb 2007 09:12:00 EST