Vikram Pandit Gets Paid Too Much, Say Citigroup Shareholders

Photo: Bloomberg/2011 Bloomberg

At Citigroup’s annual meeting today, shareholders voted against an executive pay plan that includes CEO Vikram Pandit’s $15 million in compensation. Cue Occupy Wall Street cheers! But wait: The vote isn’t binding, so the bank doesn’t have to act. “Citi’s board of directors takes the shareholder vote seriously, and along with senior management will consult with representative shareholders to understand their concerns,” a spokesman told DealBook. Commence breath-holding now.

Citigroup Shareholders Reject Executive Pay