From reports in the media, Citigroup’s CEO was ousted by the Chairman. From statements like “unnamed sources” at Citigroup to inferences about the Chairman’s relations with the incoming CEO, the situation has been made to sound like conspiracy.
Until October 15th, Vikram Pandit was the CEO of Citigroup. It is said that Michael O’Neill, Chairman at Citigroup, called Mr. Pandit into his office. O’Neill is said to have given Pandit three options: