8-KLeadership ChangesExhibits & Filings

CITIGROUP INC 8-K Report, Executive Changes (Oct 3, 2017)

Filed October 3, 2017For Securities:CC-PNC-PR

Summary

Citigroup Inc. (C) filed an 8-K on October 3, 2017, to report the appointment of two new independent directors to its Board of Directors. S. Leslie Ireland, formerly with the U.S. Department of the Treasury and the Office of the Director of National Intelligence, and John C. Dugan, former Comptroller of the Currency and partner at Covington & Burling, LLP, were elected. These appointments are effective October 1, 2017. Both new directors have been determined to be independent according to Citigroup's Corporate Governance Guidelines and NYSE rules. Ms. Ireland was appointed to the Board of Directors of Citibank, N.A., and the Citigroup Operations and Technology Committee. Mr. Dugan was appointed to the Nomination, Governance and Public Affairs Committee and the Risk Management Committee. Their compensation will be in line with Citigroup's standard practices for non-employee directors.

Key Highlights

  • 1Citigroup elected two new independent directors: S. Leslie Ireland and John C. Dugan.
  • 2S. Leslie Ireland brings experience from the U.S. Department of the Treasury and intelligence community.
  • 3John C. Dugan has a background as former Comptroller of the Currency and a partner at a major law firm.
  • 4Both directors have been deemed independent per Citigroup's guidelines and NYSE rules.
  • 5Ms. Ireland has been appointed to the Board of Citibank, N.A. and the Operations and Technology Committee.
  • 6Mr. Dugan has been appointed to the Nomination, Governance and Public Affairs Committee and the Risk Management Committee.
  • 7New directors will receive standard compensation for non-employee directors.

Frequently Asked Questions

Citigroup elected S. Leslie Ireland and John C. Dugan as new independent directors to its Board of Directors.

S. Leslie Ireland has experience from the U.S. Department of the Treasury and the Office of the Director of National Intelligence, focusing on intelligence and threat finance. John C. Dugan is a former Comptroller of the Currency and a former partner at Covington & Burling, LLP, specializing in financial institutions.

Yes, the Board determined that both Ms. Ireland and Mr. Dugan are independent in accordance with Citigroup’s Corporate Governance Guidelines, which align with New York Stock Exchange rules, and other applicable regulations.

Ms. Ireland was appointed to the Board of Directors of Citibank, N.A. and the Citigroup Operations and Technology Committee. Mr. Dugan was appointed to the Nomination, Governance and Public Affairs Committee and the Risk Management Committee.