Skip to main content

Sandy Weill Makes Gargantuan Sacrifice In The Name Of The Company He Loves

  • Author:
  • Updated:

The last thing Sandy Weill wants is for Citigroup to break itself up (see also: the only solution for pulling itself out of the muck—and mire, lot of mire—its gotten itself into), and if slashing 17,000 jobs wasn’t enough to turn things around, he’s got a plan. Although his employment agreement includes use of Citigroup corporate aircraft for the rest of his life, Sandy will be taking one for the team and not using the jet that much anymore.
Although Weill has had a well-documented love affair with planes, and even commissioned a photograph of himself in front of one, he has “unilaterally and voluntarily decided to reduce his non-business usage of Citigroup corporate aircraft” and not at all after 2013, according to Citigroup's 2006 proxy filing. Selfless doesn’t even begin to describe it.
Of course, sources tell the New York Post that Weill regularly flies to the Adirondacks on one of the company’s smaller Gulfstreams and recently “demanded and received use of Citigroup's largest jet to fly himself and a large group of friends to Bermuda for a weeklong spree,” bumping some Citi execs onto commercial flights, but a Weill spokeswoman claims that Sandy hasn’t been to Bermuda in two years and we believe her. As a show of solidarity, Chuck Prince has pledged to wean himself off taking the elevators to his office. It's all stairs, now, baby.*
Wall St.'s Less-Frequent Flier [New York Post]
*We made that up. But, Chuck, it might be a good idea. For real. Cardio and reducing your "carbon footprint." Think about it.


Sandy Weill Is Looking For Work

The former Citigroup CEO has stepped down from his latest gig.