Shareowners And Citigroup Differ On Cost Of Retaining Vikram Pandit

Statistics Canada announced that country’s annual inflation rate has dropped to a three-year low of 0.5%. Citigroup CEO Michael Corbat received $11.5 million pay in 2012. Hewlett-Packard’s Q2 report showed better-than-expected results. PepsiCo might lose its market share in Thailand.   

Yesterday, Citigroup announced that it's CEO Michael Corbat would be paid $11.5 million for 2012.Today, Dealbook has written about the fall-out from that announcement.

Citigroup shareholders refused to endorse a pay plan for Chief Executive Vikram Pandit and four other officials Tuesday, dealing a blow to a management that has failed to pull up the bank's stock since the financial crisis.Shareholders turned back the board's compensation plan for the top five executives, which included a $14.9 million package for Pandit for 2011, after he kept his salary in 2010 at just $1.00.According to a source close to the bank, just 45 percent of shareholders voted for the compensation plan at the company's shareholder meeting in Dallas.

NEW YORK (Reuters) - Citigroup Chief Executive Vikram Pandit finally got his payday. The third biggest U.S. bank company paid Pandit $14.86 million in 2011, compared with a salary of $1 and no bonus in 2010, according to a filing with the Securities and Exchange Committee. The 2011 payout included salary of $1.7 million and cash supplemented by a cash bonus of $5.3 million and options valued at $7.8 million. In 2009, Pandit's total pay package was $128,751. ...

NEW YORK (Reuters) - Citigroup Chief Executive Vikram Pandit finally got his payday. The third biggest U.S. bank company paid Pandit $14.86 million in 2011, compared with $1 in 2010, according to a filing with the Securities and Exchange Committee. The 2011 payout included salary of $1.7 million and cash supplemented by a cash bonus of $5.3 million and options valued at $7.8 million. In 2010, Pandit's total pay package was $128,751. The pay recognizes Pandit's shepherding of the company to profitability after the bank was bailed out by the government in 2008.