• Most Popular
  • Most Shared

Citigroup board says supports its chairman

NEW YORK
Thu Nov 13, 2008 2:02pm EST

Stocks

   
A Citibank sign is seen on the side of a branch in New York, October 8, 2008. REUTERS/Lucas Jackson

NEW YORK (Reuters) - Citigroup Inc's (C.N) board of directors said it supports its chairman and a newspaper report that said it was considering replacing him was "completely erroneous."

Hot Stocks

The Wall Street Journal reported on Thursday morning that the board was dissatisfied with Citigroup's performance and was looking at replacing Sir Win Bischoff, a Citigroup director based in London.

Citigroup's shares were trading 7 percent lower, at $8.96, on Thursday afternoon.

Richard Parsons, Chairman of Time Warner Inc (TWX.N) and a Citigroup board member, is a leading candidate to head the bank's board, the newspaper said.

In a rare statement from Citigroup's board, it said it, "reiterated its full support for the company's Chairman ... and said it looks forward to his continued leadership."

(Reporting by Dan Wilchins; Editing by Andre Grenon)
Hot Stocks


More from Reuters

Photo

Democrats gain 60th vote on health bill

WASHINGTON (Reuters) - Senate Democrats reached a compromise on Saturday with the last holdout senator that secured the 60 votes they need to pass a broad healthcare overhaul sought by President Barack Obama.

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review