Citigroup CEO Corbat's 2019 compensation unchanged at $24 million
Citigroup Inc kept its Chief Executive Officer Michael Corbat's 2019 compen...2 Min Read FILE PHOTO - Michael Corbat, CEO of Citigroup, speaks during the Bloomberg Global Business Forum in New York City, New York, U.S., September 25, 2019. REUTERS/Shannon Stapleton (Reuters) - Citigroup Inc ( C.N ) kept its Chief Executive Officer Michael Corbat’s 2019 compensation unchanged at $24 million, according to a regulatory filing on Friday. Corbat's total compensation included a base salary of $1.5 million plus cash bonuses of about $6.75 million, equity awards of nearly $7.9 million, and a long-term performance based pay worth $7.9 million. ( bit.ly/2uPC4Jd ) Members of the board considered the bank’s 2019 operating performance, market levels of pay for the CEO role at peer institutions, and Corbat’s leadership while deciding his compensation, according to the filing. For 2019, Citigroup reported returns on tangible common equity of 12.1%, beating its 12% target. Though the biggest U.S. banks largely reported a year of strong top and bottom line growth, executive compensation remained subdued as bank boards have become more cost-conscious reflecting a weaker revenue outlook. Morgan Stanley’s ( ) board made the rare move of cutting CEO James Gorman’s pay by 7% to $27 million for 2019 in an effort to reduce expenses. Bank of America Corp ( Read more: Reuters Top News
That's nuts... probsbly not worth 1/100th of that Disgusting What for? For being a constipated douche bag who contributes nothing of value to the world? For extracting critical capital and resources that are needed for the general welfare of the society to line his pockets? I say let’s string him up! Wake up America
Poor guy-how’s he supposed to react to a cost of living increase with flat wages? But inflation!?! Pocket change. I’m smarter than this guy and every ceo in the world 🗺
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