UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event
reported) January 18, 2011
Citigroup
Inc.
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(Exact
name of registrant as specified in its
charter)
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Delaware
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1-9924
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52-1568099
|
||
(State
or other
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(Commission
|
(IRS
Employer
|
||
jurisdiction
of
|
File
Number)
|
Identification
No.)
|
||
incorporation)
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399
Park Avenue, New York, New York 10043
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(Address
of principal executive offices) (Zip Code)
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(212)
559-1000
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(Registrant's
telephone number, including area
code)
|
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Citigroup
Inc.
Current
Report on Form 8-K
Item
5.02(c) and (e). Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On January 18, 2011, the Personnel and
Compensation Committee of the Board of Directors of Citigroup Inc. approved an
increase in the annual rate of base salary for CEO Vikram Pandit from $1 per
year to $1,750,000 per year, effective immediately. Richard Parsons,
Chairman of the Board of Citigroup Inc., said that “the Board is very pleased
with the progress that the company has made under Vikram’s leadership. Vikram
has worked tirelessly to put Citi back on the right track, spearheading a
restructuring that has returned the company to profitability and positioning the
company for future growth. In light of these highly positive accomplishments,
the base salary established for Vikram is merited.”
On January 19, 2011, the Board of
Directors of Citigroup Inc. named John Havens as President and Chief Operating
Officer of Citigroup Inc. Certain information concerning Mr. Havens, who
has been CEO of Citigroup’s Institutional Clients Group since March 17, 2008 and
who was a named executive officer in Citigroup’s definitive proxy statement for
its 2010 annual meeting of shareholders, filed on March 12, 2010, is included in
such proxy statement under “Certain Transactions and Relationships, Compensation
Committee Interlocks and Insider Participation” and in Citigroup’s 2009 annual
report on Form 10-K, filed on February 26, 2010, under “Executive Officers.”
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: January 21, 2011 | CITIGROUP INC. | ||
|
By:
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/s/ Michael S. Helfer | |
Name: | Michael S. Helfer | ||
Title: | General Counsel and Corporate Secretary | ||