Charles Prince Elected Citigroup Chairman
March 21, 2006
Charles Prince was elected chairman Tuesday of New York-based Citigroup, effective April 18, succeeding Sanford I. Weill.
Weill held the big bank’s chairmanship for nearly 20 years and will retire at the April 18 annual meeting, Citigroup said. He also will be given the honorary title of chairman emeritus.
The board said Prince had sharpened Citigroup’s strategic focus, created a growth strategy that capitalizes on the company’s unique strengths, installed a talented and dedicated leadership team from our deep bench, strengthened internal controls, and focused our people on how they conduct themselves as part of a leading, global institution.