Sandy Weill gives up Citi perks
Is Sandy Weill doing his part to help save the bank he led for so long? He's asked that the cushy consulting contract he had with the bank be terminated. His consulting agreement allowed him to earn as much as $173,070 annually for up to 45 days of work, according to the AP. The agreement also allowed him to use Citigroup jets, a car and driver and an office among other perks.
His motivation may simply be that he wants to avoid bad publicity; someone could have easily portrayed him as living high on a swooning, taxpayer-rescued bank. Or maybe he was just disgusted with the way things have turned out at his beloved Citigroup. His "supermarket" legacy does seem to be tarnished.
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