Citigroup discloses Prince's retirement terms

Thu Nov 8, 2007 5:47pm EST
 
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NEW YORK, Nov 8 (Reuters) - Citigroup Inc (C.N), the largest bank in the United States, said on Thursday that it entered into an agreement with former chairman and chief executive Charles Prince regarding his retirement terms.

According to a filing with regulators, Prince's options will vest at the end of the year, and restricted shares granted in July 2003 will vest on a pro-rata basis.

Prince will continue working at Citi till the end of the year, to advise Chairman Robert Rubin and Acting CEO Sir Win Bischoff. (Reporting by Dan Wilchins; Editing by Gary Hill)

 

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