| | NEWS FLASH
| Citigroup chief executive Vikram Pandit has stepped down, the company said in a statement from chairman Michael O'Neill. John P. Havens, president and COO, has also stepped down, the statement said.
The Board of Directors has now selected Michael Corbat, previously chief executive for Europe, Middle East and Africa, as the new chief executive.
The resignations comes a day after the company's quarterly profit plunged on a $4.7 billion writedown of its stake in a brokerage operated by Morgan Stanley. | |
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