When things are bad, they tend to get worse. At least that's how it seems right now in the financial services industry. Case in point: Charles Prince. He left his position as CEO of Citigroup as somewhat of a failure. He'll be remembered, fairly or not, as the guy who let things get out of control. Now, his former mentor, Sandy Weill, has chimed in. Weill tells the Financial Times that the succession plans that he laid turned out to be a mistake. Weill also said that he should have fostered competition for the top job instead of establishing Prince as the future king. Sadly, he may have a point. Wall Street was never sold on Prince as a CEO. He was on the hot seat, it seems, for his entire tenure.  

For more:
- here's the Financial Times article

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