Vikram Pandit comes out swinging

June 9, 2009 | By Jim Kim

This may strike some as a dicey PR gambit: Citigroup is starting to trot out embattled CEO Vikram Pandit to select media outlets. In an interview on CNN International, he responded to this comment right off the bat: "Mr. Pandit, you've been named as one of the worst CEOs in America. There are calls for your resignation from Citigroup..."

I mean, it's almost parody. He pretty much said all the right things, but there was one thing notably omitted. Pandit noted that stage 1 in the recovery of Citi was stability. Stage 2 is a new business model that can power the bank into the future. "It's about new engines of growth and it's not only about creating stability and saying that we're out of the crisis mode. But we all have work to do as we search for what the new business model is for the world." So is it telling that he's still searching for a new business model? Is it reasonable to assume he wouldn't have one at this stage of the bank's recovery?

For more:
- here's the transcript