CEO Quits Effective Immediately

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

In a surprise move, Citigroup announced on Tuesday that Vikram S. Pandit, the bank’s chief executive, had resigned, effective immediately. While his unexpectedly fast departure has raised many questions, critics said there were many signs that the end was near for Pandit.

Questions:

1. How long had Mr. Pandit been chief executive of Citigroup?
2. What were some of the signs leading up to Mr. Pandit’s resignation?
3. Research the $45 billion lifeline provided to Citigroup from the federal government. When was it paid back and was it a profitable venture for tax payers?

Source:

Thirani, N.(2012). What Happened to Vikram Pandit? The New York Times, Oct. 17 (Retrieved online at http://india.blogs.nytimes.com/2012/10/17/what-happened-to-vikram-pandit/)

Video. (2012). Business Day Live. The New York Times, Oct. 17 (Retrievable online at http://nyti.ms/RTAK8Q)