Citigroup announces that it will begin paying its chief executive more money next year. CEO Vikram Pandit did not want to get paid more than $1 for his 2009 and 2010 salary. However, the banks chairman says it will begin to pay Pandit to compensate his duties as CEO. Vikram Pandit has been a great leader for Citi, bringing them out of the crisis it was in. He restructured the company once it was brought down to its knees two years ago.
I believe that it is really respectable for what Vikram Pandit has done for the company. He took Citi Bank and revived it. Giving up his salary as well is a really admirable thing to do. Though he does not lack stock options he is still giving off the image that he is a corteous man. Vikram is a strong representative of a man that knows his limits. He knows that he still wealthy with his stock options. Therefore, he sees that his salary will be better used if he kept it in the company. Allowing his millions of dollars that he would receive as CEO for Citi to get back up top is understandable. He has done many positive things for the company and this shows his devotion to getting the American economy back on board.
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