In a surprise, Pandit steps down as Citigroup CEO
Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director.
The move shocked Wall Street, and Citigroup offered no explanation. There had been no hint of the departure Monday, when the bank discussed its strong third-quarter earnings in lengthy calls with analysts and reporters.
A second top executive resigned as part of the shake-up: President and Chief Operating Officer John Havens, who was also CEO of Citi's Institutional Client Group, which serves global companies, banks and governments.
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