The Chairman and CEO of Citigroup Inc, Charles “Chuck” Prince has formally resigned. Coming as it did on the heels of the sub prime crisis and mounting losses faced by the group, this was anyway seen as coming.

Former US Treasury Secy, Robert Rubin, who joined the group in 1999, now takes over as Chairman, and Sir Win Bischoff, the Chairman of Citigroup’s European operations, will function as interim CEO till a full time person is appointed to the post.

Prince was in charge for around four years, and it was certainly not roses all the way, with attrition, bad loans, poor strategic choices being resposonbile for the slide.

There is news that an Indian may be appointed CEO…



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