More board changes coming at Citi

As expected Richard Parsons will replace Win Bischoff as chairman of the Citi board. The move presages some huge changes on the board of Citi, which has been roundly criticized for Citi's long, painful slide to its current state. Parsons has already said he expects a lot of directors to resign (of course, Robert Rubin already stepped down). Parsons strikes some as a good choice. He has experience in financial services, and at mega-company Time Warner, notes the AP. Then again, Parsons joined the Citibank board in 1996. Some will argue that he ought to share in the board's blame. We'll see who he recruits. The big question as of now remains CEO Vikram Pandit and what his role will be going forward.

For more:
- here's the AP article

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