Citigroup Says Chairman Parsons Won’t Stand for Re-election

Citigroup Inc., the third-largest U.S. lender, said Chairman Richard Parsons won’t stand for re-election at the next shareholders meeting scheduled for April 17.

Michael O’Neill was named to replace Parsons as chairman of Citigroup, which is based in New York. Directors Alain J.P. Belda and Timothy C. Collins will also not seek re-election.

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