Citigroup overhauls exec pay plan after losing shareholder vote

NEW YORK Thu Feb 21, 2013 4:39pm EST

NEW YORK Feb 21 (Reuters) - Citigroup Inc said it has overhauled the executive pay plan that shareholders rejected last year to better tie bonus payments to stock performance and profitability.

The company, in a filing Thursday afternoon, also said the company is paying new CEO Mike Corbat $11.5 million for his work in 2012.