Break up the only cure for Citigroup?
Over the years, many shareholders have called for the break up of Citigroup. In their view, the quintessential financial supermarket has been an abject failure. So it's not enough that Charles Prince will depart. Investors want indications that the new management team will sell off assets. Robert Rubin, however, indicated just the opposite to analysts, which partially explains the continuing pressure on the stock. Rubin likely meant that the board would continue with the strategy in place until a new CEO could be found, who would be expected to review strategy. The way things are going now, the new CEO will be expected to be pro-break up from the get go.
For more:
- here's an AP article
Related article:
- Citigroup may never be the same
Read more on: Citigroup l Charles Prince




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