CEO Succession Planning Issues at Citigroup: Vikram Pandit's Exit

CEO Succession Planning Issues at Citigroup: Vikram Pandit's Exit

written by Barnali Chakraborty, fl. 2013 (Hyderabad, Andhra Pradesh: IBS Center for Management Research, 2013, originally published 2013), 16 page(s)

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Abstract / Summary
The case is about the sudden exit of Vikram Pandit (Pandit), the CEO of Citigroup on October 16, 2012, a day after the company reported strong quarterly results. Pandit had joined Citigroup in July 2007, when he sold his hedge fund, Old Lane Partners LLC, to Citigroup for US$800 million. Within months of joining the company, he was made the CEO of Citigroup on December 11, 2007. The case discusses the performance of Citigroup under Pandit. It also describes in detail the initiatives Pandit took to turn the company around. It highlights Pandit’s abrupt exit from the company and the response of analysts to it. The case goes on to discuss the corporate governance issues including Pandit’s relationship with the board of directors, the role of the Chairman in Pandit’s ouster, and the role of the board in general in CEO succession planning in Citigroup.
Field of Interest
Business & Economics
Author
Barnali Chakraborty, fl. 2013
Copyright Message
Copyright © 2013 by IBS Center for Management Research
Content Type
Case study
Duration
0 sec
Format
Text
Original Publication Date
2013
Page Count
16
Publication Year
2013
Publisher
IBS Center for Management Research
Place Published / Released
Hyderabad, Andhra Pradesh
Subject
Business & Economics, Social Sciences, Corporate Governance, Organizational behavior, Organizational structure, Job terminations, Executives, Management of Companies and Enterprises, Finance and Insurance, Governança Corporativa, Gobierno Corporativo, Citigroup, Vikram Pandit, 1957-, Talent Management
Keywords and Translated Subjects
Governança Corporativa, Gobierno Corporativo

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