Still No Raise for Vikram Pandit

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Two years ago, Citigroup CEO Vikram Pandit volunteered to reduce his salary to $1 a year,until the bank was out of the woods. But despite auspicious signs and moments of wild hope, he still hasn't made it. Reports Bloomberg:


Citigroup Inc. said it will pay no stock salary to Chief Executive Officer Vikram Pandit for the portion of 2010 that the company is subject to U.S. executive compensation provisions. Pandit’s salary remains at $1 per year.

Cue the sad trombone sound!




Don't worry, though: He's not going to be living in the streets. He's still got that $32 million from 2008.

Citigroup Says Chief Executive Pandit's Salary Remains $1-Year [Bloomberg]