• 24 Sep 2010 at 4:30 PM

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]

8 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (8)

  1. Posted by Rich so don't care | September 24, 2010 at 9:20 PM

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

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

  2. Posted by Guest | September 24, 2010 at 9:47 PM

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

  3. Posted by Ssummerill | September 24, 2010 at 10:56 PM

    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. Posted by Nyrebel2003 | September 25, 2010 at 1:52 AM

    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. Posted by Guest | September 26, 2010 at 1:29 PM

    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. Posted by Homer | September 25, 2010 at 1:12 PM

    No, I said one slurpy and a beef jerky, please. And one of those mega millions tickets while you’re at it.

  7. Posted by buy oem software | May 1, 2012 at 6:42 PM

    NnB68i Im obliged for the blog article. Great.

  8. Posted by cheap bookmarking service | September 11, 2012 at 12:44 AM

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