4/20/2012

BBC News – Citigroup Investors Reject Bigger Executive Pay Deal – 18 April 2012

Citigroup shareholders have voted against giving top executives a bigger pay deal in a rare show of investor discontent.

The package, which had increased chief executive Vikram Pandit’s pay to $15m (£9m), was backed by just 45% of shareholders.

Citigroup’s board said it will meet with shareholders to discuss what it called a “serious matter”.

High executive pay has come into focus after the global financial crisis.

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Read more at  www.bbc.co.uk/news link to original article

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