Citigroup chief executive Vikram Pandit resigned as head of one of the world's largest banks on Tuesday, as did president and Chief Operating Officer John Havens, a long-time associate of Pandit. Michael Corbat, previously the head of Citi's Europe, Middle East, and Africa divisions, is replacing Pandit. Citigroup did not give a reason for the change of leadership, but Pandit said in a statement that he has "concluded that now is the right time for someone else to take the helm at Citigroup." His resignation is effective immediately.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why Mitt Romney is perfectly poised for a comeback in 2016
- 8 secrets to steal from power networkers
- What would a U.S.-Russia war look like?
- Why is the West so afraid of Islam?
- The Nazi smart bomb that inspired China's most dangerous weapon
- How to make classic pulled pork
- Here's the schedule very successful people follow every day
- The best places to find love — and lust — according to science
- Don't vote for Andrew Cuomo
Subscribe to the Week