The Deafening Silence of Citigroup's Chairman

Citigroup Chairman Michael O'Neill File Photograph by Barclays PLC via Bloomberg News

Now that Citigroup Chairman Michael O’Neill has said that Vikram Pandit decided to quit as chief executive officer on Oct. 16, there’s one more thing he can do for shareholders: Tell them what happened. While O’Neill and Citi’s newly minted chief Michael Corbat may have assured analysts that there will be no major shift in strategic direction, they did little to address concerns about the bank’s governance.

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