TIMELINE: Citigroup CEO resigns amid turmoil

(Reuters) - The following is a chronology of recent events at Citigroup Inc, and how it got where it is:

November 4, 2007: Charles Prince, Citi's chairman and chief executive, resigns after the company calls an emergency board meeting. Robert Rubin, chairman of Citi's executive committee, is named chairman. Sir Win Bischoff, head of European operations, is named acting chief executive. A board committee consisting of Rubin, Alain Belda, Richard Parsons and Franklin Thomas is formed to search for a new chief executive. Prince will remain a Citi adviser. Separately, Citi says it may write down $8 billion to $11 billion (3.8 billion pounds to 5.3 billion pounds) for its exposure to subprime mortgages, equal to $5 billion to $7 billion after taxes.

October 31, 2007: CIBC World Markets analyst Meredith Whitney says in a note to investors that Citi may have to cut its dividend, sell assets, or issue securities to raise some $30 billion of capital. Citi's shares fall nearly 7 percent the next day.

October 15, 2007: Citi posts a 57 percent decline in third-quarter profit, hurt by $6.5 billion of write-downs and losses in areas including subprime mortgages. Prince calls the performance "frankly surprising."

October 11, 2007: Vikram Pandit is named head of commercial and investment banking, trading, and alternative investments. Trading chief Thomas Maheras leaves, as does Randy Barker, one of Citi's three heads of fixed income.

July 20, 2007: Citi boosts quarterly profit a higher-than-expected 18 percent. Operating revenue rises faster than expenses for the second straight quarter, signaling to some investors that cost problems are under control.

April 27, 2007: A majority of Nikko Cordial Corp shareholders accept Citi's offer for the Japanese brokerages' shares. Citi agrees to pay $7.7 billion. Six months later, Citi agrees to buy the rest of Nikko.

April 13, 2007: Citi says it is buying Old Lane Partners GP LLC, a hedge fund co-founded by Pandit, a former Morgan Stanley executive.

April 11, 2007: Citi announces plans to eliminate 17,000 jobs, or about 5 percent of its work force, and save $4.58 billion a year by 2009.

March 12, 2007: Gary Crittenden becomes chief financial officer, after leaving the same role at American Express Co. He replaces Sallie Krawcheck, who takes over Citi's wealth management unit. She replaces Todd Thomson, who left the bank.

February 13, 2007: The bank says it will rebrand itself as "Citi," while keeping its legal name as Citigroup, and sells its trademark red umbrella logo to St. Paul Travellers Cos, which renames itself Travelers Cos.

January 9, 2007: Citi says it will close most of its Japanese consumer finance branches and suffer a $370 million quarterly loss in that unit, hit by law changes that cut the maximum interest rate in loans.

January 1, 2007: Robert Druskin becomes chief operating officer, with a mandate to cut costs.

July 2006: Saudi Prince Alwaleed bin Talal, the largest individual Citi shareholder, demands "draconian" measures to cut costs.

April 2006: Sanford "Sandy" Weill, the chief architect of Citigroup, steps down as chairman.

December 2005: Citi swaps its asset management business for Legg Mason Inc's retail broker business.