Reported 1 day ago
Citigroup's board has appointed CEO Jane Fraser as chair, marking a significant consolidation of her power, alongside a $25 million bonus in restricted stock. This change reverses a 20-year separation of the roles and reflects a trend among major banks to align CEO and board leadership. Fraser, who aims to simplify and streamline Citi into five core divisions, has seen the bank's stock rise 46% since she became CEO in 2021, despite ongoing challenges to meet profitability targets.
Source: YAHOO