Citigroup CEO Vikram Pandit to rake in $1 salary - Elizabeth Harrow

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Citigroup CEO Vikram Pandit to rake in $1 salary
Nov 18, 2009 04:20 PM UTC

Elizabeth Harrow

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Filed under: Management, Employees, Citigroup Inc. (C)

A few lucky executives at Citigroup (C) received base pay raises this year, but CEO Vikram Pandit isn't among them. The bank announced that it will compensate Pandit exactly $1 for his services, with no stock salary. Last year, the chief executive collected a modest salary (by Wall Street standards) of $958,333.

Meanwhile, Chief Financial Officer John Gerspach's base compensation was hiked from $400,000 to $500,000 effective Nov. 1. James Forese, co-head of global markets, enjoyed an even heftier pay raise -- his base salary jumped from $225,000 to $475,000.

Continue reading Citigroup CEO Vikram Pandit to rake in $1 salary

Citigroup CEO Vikram Pandit to rake in $1 salary originally appeared on BloggingStocks on Wed, 18 Nov 2009 11:20:00 EST. Please see our terms for use of feeds.

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