If you are a member of the Citi Group common stock fund in your 401k you get a proxy each year. Make your voice heard and vote against Jane for the board! You can even make your vote anonymous!
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Even if Jane Fraser is voted out she knows she got her money. The Board of Directors stup!dly and insanely approved her base salary increase by 10% to US$30 Million Not including a bonus she does NOT deserve. Plus she'll get an equally large severance package if Citi fires her or she's voted out. Either way she still wins in a sense. Of course the BOD approved her salary increase, because they're in the same Club.
“If You Are Not at the Table Then You’re Probably on the Menu”
Companies that go thru major downsizings take years to recover. Many never recover due to the loss of knowledge and huge upheaval generated.
The ultimate goal for Citi could be to sell its parts.
The underlying tone of the messages given along with other stock analyst assessment is that she’s under the microscope via the board of directors to turn things around sooner rather than later, thus the aggressive changes. The stock is down -30% since she took office. If there is not a quick turnaround after a year on the stock price she herself may be asked to step down is what I’m betting.
She’s out of her depth and is panicking. As already stated by another poster “She was a token hire, and this is what token hires do (create constant buzzword campaigns and virtue signaling exercises), because they never have any actual experience doing the job they were hired for.”
She's not going anywhere, right now.
She should stay and complete what she started.
Agreed! Jane should go!