Felix Salmon wrote a blog in Portfolio.com yesterday calling for a change at the top of Citi. He does not believe Vikram Pandit, Citi’s CEO, is capable of handling the severe problems currently facing Citi. In the blog Salmon wrote,
When Vikram Pandit became Citi’s CEO, he can hardly have expected to keep it if the share price fell to single digits. Now that it’s at $7, I think it’s time for Pandit to offer his resignation. The task facing Citigroup now is not to build a “global universal bank”; it’s to stay alive. And Pandit has given no indication he’s up to that particular job.
Check it out.
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