O’Neill Acquires $1 Million of Citigroup Stock After Pandit Exit
O’Neill, 66, purchased 28,200 shares through a trust at an average price of $35.52 each, the New York-based bank said today in a regulatory filing. He owned 59,513 shares after the transaction, including deferred stock tied to compensation, the filing shows. Edward Skyler, a Citigroup spokesman, declined to comment on the stock purchase.
The board of directors, which O’Neill has led since April, ousted Pandit last month after concluding he mismanaged operations, a person familiar with the matter said at the time. Michael Corbat, 52, who succeeded Pandit, 55, is conducting a review of how the company is run.
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