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Originally posted by q13ert
I think the # is getting ready to hit the fan In a stunning move Citigroup (C) announced this morning that CEO Vikram Pandit and COO John Havens were resigning effective immediately. The departures come just one day after the big bank reported what was generally regarded as a strong quarter, sending the stock higher by 5% in Monday trading. Pandit also stepped down from Citi's Board of Directors.
This departure marks the end of a controversial and often troubled tenure. Pandit first came on the scene at Citigroup in July of 2007 when his hedge fund, Old Lane Partners LP, was bought for $800 million. Pandit reportedly pocketed $165 million for his portion of the company. Named CEO in December of 2007, Pandit steered Citi through the worst financial crisis since the Great Depression. The company's stock has fallen some 90% since he took the corner office, underperforming most of the industry.
Originally posted by Destinyone
Originally posted by q13ert
I think the # is getting ready to hit the fan In a stunning move Citigroup (C) announced this morning that CEO Vikram Pandit and COO John Havens were resigning effective immediately. The departures come just one day after the big bank reported what was generally regarded as a strong quarter, sending the stock higher by 5% in Monday trading. Pandit also stepped down from Citi's Board of Directors.
This departure marks the end of a controversial and often troubled tenure. Pandit first came on the scene at Citigroup in July of 2007 when his hedge fund, Old Lane Partners LP, was bought for $800 million. Pandit reportedly pocketed $165 million for his portion of the company. Named CEO in December of 2007, Pandit steered Citi through the worst financial crisis since the Great Depression. The company's stock has fallen some 90% since he took the corner office, underperforming most of the industry.
Link Please.....
Des
Originally posted by moniesisfun
This nonsense pops up about every six months.
How many high level bankers are in the world?
On average, what is their turnover rate?
Yep, you're just buying into fear-mongering.
Originally posted by LordOfArcadia
Then I had an idea. The Securities Exchange Act of 1934 requires that publicly traded companies must report to the SEC whenever a member of the Board or certain officers resign. Also, the SEC has a database named EDGAR that is open to the public. After a little research, I discovered that corporations must report said resignations on Form 8-K, Item 5.02. From there, it was a simple matter of searching only Form 8-Ks within a specific range of dates, and including the boolean search terms "Resigns" and "Resignation".
Originally posted by moniesisfun
This nonsense pops up about every six months.
How many high level bankers are in the world?
On average, what is their turnover rate?
Yep, you're just buying into fear-mongering.
I think the # is getting ready to hit the fan In a stunning move Citigroup (C) announced this morning that CEO Vikram Pandit and COO John Havens were resigning effective immediately.