Citigroup Awards Stock, Plans Raise for $1-a-Year CEO
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Citigroup Inc., the bank 18-percent owned by U.S. taxpayers, awarded more than $37 million in shares to six top executives and said it plans to raise Chief Executive Officer Vikram Pandit’s $1-a-year pay.
Pandit, 53, declined more compensation for 2010 as other executives received millions of dollars in “stock salary,” or shares that can be quickly sold, according to a statement today. Next year, “the board intends to compensate Vikram commensurate with the job of CEO,” the bank said in a statement.