Citi Rotates Board Committee Chairs and Membership.- Changes are Part of Periodic Rotations - NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Citi's Board of Directors announced today the rotation of committee chairs for its Nominations and Governance, Personnel and Compensation, and Audit and Risk Management committees. The Board also made several other committee assignments. As stated in Citi's Proxy, Corporate Governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. Guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. and committee charters, committee memberships and chairs rotate periodically. Citi believes this process reflects strong corporate governance practices. Earlier this year, the Board indicated rotations would begin in the third quarter of 2008. The following committee changes are effective immediately: * Richard Parsons This article is about the businessman. For the U.S. Representative from Ohio, see Richard C. Parsons. Richard Dean Parsons (born April 4, 1948), is the chairman of the board and chief executive officer of Time Warner. He is also on the board of directors of Citigroup. will Chair the Nominations and Governance Committee and serve as lead director of the Board. Mr. Parsons Parsons, city (1990 pop. 11,924), Labette co., SE Kans.; inc. 1871. It is a shipping point for dairy products, grain, and livestock. Manufactures include ammunition, wire and paper products, plastics, and appliances. previously chaired the Personnel and Compensation Committee. * Alain Belda will Chair the Personnel and Compensation Committee. Mr. Belda previously chaired the Nominations and Governance Committee and served as lead director. * John Deutch will Chair the Audit and Risk Management Committee. Mr. Deutch will continue as Chair of the Audit and Risk Management Corporate Subcommittee. He will also join the Executive Committee. * Michael Armstrong Michael Armstrong is the name of:
* Lawrence Ricciardi will become a member of the Audit and Risk Management Committee. * All other Board committee assignments remain unchanged. "Citi's broad base of exceptional Board talent allows us to rotate assignments periodically and put the extensive experience and insights of our directors to work across all our committees," said Citi Chairman Sir Win Bischoff. "I want to thank these highly accomplished and actively engaged directors. I look forward to continuing to work with them, along with Vikram and his senior management team, to further strengthen Citi's balance sheet, enhance risk management and position our company for global growth." Citi, the leading global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Nikko and Banamex. Additional information may be found at www.citigroup.com or www.citi.com. |
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