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Mike Mayo won’t be happy about it, but Citigroup’s board of directors is tickled pink by its new lady CEO and all of her fire sales, firings, flexibility, wildcatting and contract-rewriting.

Citigroup Chief Executive Jane Fraser will take home total compensation of $22.5 million for 2021 — a nearly 32% increase from the previous year, the bank said Monday…. Citigroup directors cited Fraser’s ability to establish a clear set of priorities aimed at increasing long-term shareholder value among the reasons behind the compensation.

Of course, Fraser is still a woman, so….

Fraser’s compensation is less than that previously announced for more experienced CEOs of other big banks….

Citigroup CEO Jane Fraser to get $22.5 million payday [Reuters via N.Y. Post]

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