Drinks Are On Vikram Pandit This Weekend
From Citi's latest 8-K, which Vikula is going to have framed and hung in his office:
On January 18, 2011, the Personnel and Compensation Committee of the Board of Directors of Citigroup Inc. approved an increase in the annual rate of base salary for CEO Vikram Pandit from $1 per year to $1,750,000 per year, effective immediately. Richard Parsons, Chairman of the Board of Citigroup Inc., said that “the Board is very pleased with the progress that the company has made under Vikram’s leadership. Vikram has worked tirelessly to put Citi back on the right track, spearheading a restructuring that has returned the company to profitability and positioning the company for future growth. In light of these highly positive accomplishments, the base salary established for Vikram is merited.”