UPDATE 1-Citigroup raises CEO Corbat's pay 48 pct to $23 mln [Reuters]
Citigroup, Inc. (C)
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Source: Reuters
Citigroup raises CEO Corbat's pay 48 percent to $23 million NEW YORK (Reuters) - Citigroup Inc ( C.N ) raised Chief Executive Officer Michael Corbat’s annual compensation by 48 percent to $23 million for 2017, a year in which the bank made more money from operations but still fell short of earlier targets. Directors considered recent progress toward new targets when setting Corbat’s pay, according to a public filing on Friday. A year earlier, Corbat’s annual compensation was cut 6 percent to $15.5 million after the bank missed financial performance targets and saw one-third of its voting shareholders disapprove of his prior pay. After that vote, the company made changes to its pay plan, which was then endorsed by 97 percent of voting shareholders at its annual meeting in April. In July, Citigroup recast targets set in 2013 as new goals for 2020. In 2017, Citigroup stock jumped 25 percent and its profit rose 4 percent, excluding a charge for the impact of the U.S. tax law change on t
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Earnings
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Sec Filings
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- C's page on the SEC website