All Posts Tagged With: "CEO bonus"

Top Citi Executives to Forgo 2008 Bonuses, Reports State

Citigroup Inc. (C) Chief Executive Officer Vikram Pandit and Chairman Winfried Bischoff will forgo 2008 bonuses after the bank lost three-quarters of its market value and got a $45 billion U.S. bailout, Pandit said in a memo to employees.

Robert E. Rubin, the former U.S. Treasury secretary who serves as an adviser to the New York-based company, declined a bonus for a second straight year, said the memo sent to Bloomberg News by Citigroup spokesman Michael Hanretta. According to Bloomberg, senior leadership committee members will get smaller awards than last year.

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5Jan2009 | Money Morning | 0 comments | Continued

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