Citigroup reaches out to... HP?
Hewlett Packard to the rescue? Vikram Pandit, CEO of Citigroup, is reaching out to HP executives for insight into how to stand firm in the face of investor pressure to spin off key assets. The talk seems to be on IT issues, and how they can stitch various units into something whole. HP, of course, went through something similar when Mark Hurd became CEO. He resisted pressure to spin off the PC-making group. Just as Pandit is under pressure to spin out portions of the Citi empire. So will Hurd, at some point, join the Citigroup board? It's unclear if the two CEOs have met face to face, but clearly, Pandit is not above seeking advice wherever he can get it.
For more:
- here's the Financial Times article
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