Companies
Citigroup gives ex-CEO Prince $40 million severance package
By Dan Wilchins
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Posted 10 November 2007 @ 12:05 pm GMT
Former Citigroup Inc. Chairman and Chief Executive Officer Charles Prince points as he speaks during the opening ceremony for Citibank Japan Ltd.'s second branch in Chiba, east of Tokyo, July 9, 2007. Citigroup Inc, the largest bank in the United Sta...
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charles citigroup crisis lynch merrill mortgage prince robert rubin subprime
The former CEO will also be entitled to an office, administrative assistant, and car and driver for five years, or until he starts working elsewhere full-time.
Most of the package is contingent on Prince abiding by the terms of his departure, including not competing with the company and not soliciting its clients or employees.
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This article is copyrighted by Reuters.
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