Vik Pandit Out at Citi?

Eddie Braverman's picture
Rank: The Pro | 21,104

The rumor mill is in overdrive that Citi CEO Vikram Pandit is about to go the way of Rick Wagoner and be offered the Obama sword to fall upon:

http://www.nypost.com/seven/04242009/business/ceo_...
If it's true (and it's hard to believe a rumor would get legs like this if it weren't), I'd like to know why Ken Lewis gets to keep his job. I mean, c'mon, has Pandit really done worse than Lewis?

Comments (18)

Apr 24, 2009

1.5 years? right after chuck prince went away.

I'd like to be nominated to be CEO of Citi. I think I can do a lot of good. And at least as "good" of a job as Vicky and Chucky.

Hmm - jv with MS, sell off a few divisions here and there, fire another 55,000 people

I'm making it up as I go along.

I'm making it up as I go along.

Apr 24, 2009

and who would they replace him with??

I think it would be ridiculous to replace him.

"I wanna Thank the Good Lord for Making me a Capitalist"

"I wanna Thank the Good Lord for Making me a Capitalist"

Apr 24, 2009
TraderNY:

and who would they replace him with??

Hank Paulson? I hear he's looking for work. I'll bet he's got some solid internships on his resume, too.

Apr 24, 2009
TraderNY:

and who would they replace him with??

I think it would be ridiculous to replace him.

See the first post for the answer to your question.

I'm making it up as I go along.

I'm making it up as I go along.

Apr 24, 2009

this would be a mistake

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Apr 24, 2009

We're getting news from the NY Post now? The photo alone is worth the click through though

Apr 24, 2009
drexelalum11:

We're getting news from the NY Post now?

I'm also hearing it from a source I have at In Touch magazine. I think Weekly World News is on the story as well.

Apr 24, 2009

its always 99% politics/for-show and 1% realistic change.

I honestly don't think they can find anyone better than pandit for citi.

Apr 25, 2009

You're completely right, Edmundo. Lewis should be the first to get the boot.

Regarding Pandit, I don't think he should be fired. I would at least like to hear some good viable options first.

Apr 25, 2009

We have to remember that Vikram Pandit was the first one to come out in this sever financial crisis with some positive news. The stock market gained more than 20% since then. If things turn around in the economy. vikram pandit will be always remembered.

March 10th 2009: Vikram Pandit Day...:)

Apr 26, 2009

Maybe they'll bring back Sandy Weill.

Apr 26, 2009

1) Ken Lewis is a jackass. He should be fired before Pandit is even considered.
2) I will be pissed if Pandit gets the boot. Not to say that I think he's a great CEO, but he's honestly in a very unique position. He was brought in to resolve a situation a year and a half ago (The Subprime Crisis) that spiraled out of control whether he would have been at the helm of Citi or not. He's done a fairly good job of maintaining some semblance of order at the firm and keeping it from going the way of Lehman, As Dead As O-Ren. Give him another year or two before you even consider trying to can his ass. Let him continue to work and do good with the firm he's running. Of all the banks considered in the stress test, if a CEO is to be fired, let it be that of BOA/ML. Lewis should be tossed on his ass, hands down.

Apr 24, 2009

Agree, Lewis is a joke and got played like a two cent whore by Thain. If anyone is canned, it should be him and his unfortunate ego

Apr 27, 2009

I do support Pandit as Citi CEO. He has done a decent job and in my opinion it is important to keep Pandit there now in order to implement his stuff and let Citi out of the hole.

It is very risky in my opinion to get someone else at this stage = new person, new thinking, new strategies, change everything again, etc - in such volatile scenario, it doesn't sound a good idea for me.

He is doing a good job trying to simplify Citi...

Apr 27, 2009
Apr 27, 2009
Apr 27, 2009

not my fault to post the same thing 3 times...

Apr 24, 2009
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