Mobility paves Samsung’s silver path
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Citigroup Inc is giving its CEO a big raise. The New York-based bank is lifting Mr Vikram Pandit’s base salary to $1.75 million from just $1 a year effective immediately, according to a filing with the Securities and Exchange Commission yesterday.
The announcement comes after Citi reported its first full year of profits since Mr Pandit took over the top job in 2007 and the bank exited government ownership.
Citi was one of the hardest-hit US banks during the credit crisis, and received a $45-billion government bailout. In 2009, Mr Pandit pledged to take a $1 salary until the troubled bank returned to profitability. The government sold off the last of its stake in the bank in December for a profit of $12 billion.
Mr Richard Parsons, chair of Citigroup Inc’s board, said in the filing that the board is “very pleased” with the progress that the bank has made under Mr Pandit’s leadership.
He said Mr Pandit has “worked tirelessly to put Citi back on the right track’’.
The raise was not unexpected. In September, when the bank handed down raises to a number of top executives, Mr Parsons had hinted that Mr Pandit was in store for a big payout in 2011.
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Antrix should adopt a different tactic than merely fighting over jurisdiction: Experts
Invest in relationships, enterprise, behaviour, effort and learning
From different types of osmoses to new membranes, researchers have come up with ways of drawing water
Only half the Sensex stocks have bettered the index’s return in the last 10,000-point journey
High valuation and stiff competition from larger players are a dampener
Investors with a short-term perspective can buy The New India Assurance Company (NIACL) stock at current ...
₹1490 • HDFC Bank S1S2R1R2COMMENT 1475146015051520 Fresh short positions are recommended with a stiff ...
What makes the new crop of young Indian cricketers such game-changing winners? Over and above their talent, ...
Regina King’s film ‘One Night in Miami’ turns the spotlight on four young men’s often conflicting ideas of ...
Each new year millions of people around the world resolve to change their lives for the better. These ...
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor