Vikram Pandit To Remain $1 Man A While Longer

The past couple years have been something of a kick the pants for Vikram Pandit and certainly not what he was expecting when he agreed to take on the role of Citi CEO in exchange for almost a billion dollars, plus the keys to his lemon, otherwise known as Old Lane. Previously a smiley, jolly fellow of a sunny disposition, he lost weight and found himself in something of a funk. Then, in April, things started to look up. “Vikram is looking and sounding a lot more confident and secure,” a top lieutenant told the Times. “He has a smile on his face.” And why? “He sees the day when he is going to earn more than a $1 a year.” Today, someone felt the need to come along and knock the wind out of those sails (of hope).

Citigroup Inc. said it will pay no stock salary to Chief Executive Officer Vikram Pandit for the portion of 2010 that the company is subject to U.S. executive compensation provisions. Pandit’s salary remains at $1 per year.

Citigroup Says Chief Executive Pandit’s Salary To Remain At $1 [Bloomberg]

(hidden for your protection)
Show all comments

8 Responses to “Vikram Pandit To Remain $1 Man A While Longer”

  1. Rich so don't care says:

    This guy doesnt care about money anymore. It’s about legacy

    (b/c his worthless hedge fund was bought for $800MM)

  2. Guest says:

    I think they should show some appreciation and double his salary. I mean, c’mon!

  3. Ssummerill says:

    I feel since Vick had nothing to do with what took place under the leadership of Charles Prince, he has served his time in jail, and should receive a go past jail. He took over a broken company, turned it around, and we are on our way. I have just retire after working 43 years for the company. I cannot be prouder of anyone more than I am of Mr Pandit, his courage, tinasity, guts, endorance, and paying the price to make it work. He could name his price, and go anywhere he would like and get paid what he is really worth. Other’s of those bailed out by the Gov. are being paid, why not our hero. Wishing only the best for one of this countries greatest leaders in finance, keep up the great job you are doing. Hope you receive all the blessings you deserve for a job well done.
    Stan the money man:

  4. Nyrebel2003 says:

    The memo said he choose to take a dollar in comp and Parsons then stated that he understands but next year the board is going to pay the man. Vik, you got a bum deal but you have been more then gracious. Get that money, homey.

  5. Guest says:

    Dude sold his shitty ass hedge fund for $800mm to Citigroup. Evaluated in totality, I’m pretty sure he didn’t get a bum deal on his interactions with shitigroup

  6. NnB68i Im obliged for the blog article. Great.

  7. 9ujOPO Really appreciate you sharing this blog.Really looking forward to read more. Really Great.