citigroup 2

THE POWER OF SHAREHOLDERS.

SHAREHOLDERS IN CITIGROUP VOTED AGAINST PLANNED COMPENSATION PACKAGES FOR VIKRAM PANDIT, CITI’S CHIEF EXECUTIVE.

IT WAS THE FIRST TIME THIS HAD HAPPENED AT A BIG AMERICAN BANK SINCE THE « SAY ON PAY » RULE WAS INTRODUCED UNDER THE DODD-FRANK REFORMS.

THE VOTE IS NON-BINDING, BUT UNDERSCORES THE ANGER FELT BY SOME INVESTORS AT THE PERCEIVED UNCOUPLING OF PAY FROM PERFORMANCE.

SOURCE : THE ECONOMIST.

PHLDUCX