Tue, 16 Oct 2012 22:45:00 GMT | By PTI

Vikram Pandit quits Citigroup

New York: Citigroup CEO Vikram Pandit today stepped down from his post and member of the US banking giant’s Board.


Vikram Pandit quits Citigroup (© Reuters)

The Board of Directors has unanimously elected Michael Corbat, CEO and a director of the Board, the company said.

The development comes a day after the India born CEO-led the US banking giant reported 88 per cent plunge in net profit at $ 468 million in the July-September quarter.

Nagpur-born Columbia University graduate Pandit, 55, had been the CEO of Citigroup since December, 2007.

(Continued)
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