Summary
Citigroup Inc. (C) has filed a Current Report on Form 8-K to announce a significant leadership transition within its finance department. Effective March 1, 2019, John Gerspach will retire as Chief Financial Officer (CFO). This marks the end of Mr. Gerspach's tenure in a crucial role for the financial institution. The company also announced its intention to appoint Mark Mason as the successor CFO. Mr. Mason, currently holding a key financial position within Citi’s Institutional Clients Group and overseeing the CCAR submission process, is slated to take over after Mr. Gerspach's retirement. Further details regarding Mr. Mason's appointment will be provided in a subsequent 8-K filing.
Key Highlights
- 1John Gerspach, Chief Financial Officer, will retire on March 1, 2019.
- 2Mark Mason is the intended successor for the Chief Financial Officer position.
- 3Mark Mason currently serves as CFO of Citi’s Institutional Clients Group.
- 4Mark Mason is responsible for Citi's CCAR submission process.
- 5The company will file an additional Form 8-K upon Mr. Mason's official appointment.
- 6This filing signals a planned and orderly leadership transition for a key executive role.
Frequently Asked Questions
John Gerspach will retire from his position as Chief Financial Officer on March 1, 2019.
Citigroup intends to appoint Mark Mason as the Chief Financial Officer following Mr. Gerspach's retirement.
Mark Mason is currently the Chief Financial Officer of Citi’s Institutional Clients Group and is responsible for Citi’s CCAR submission process.
Yes, Citigroup intends to file a Form 8-K on or after the date Mr. Mason is appointed CFO, which will include all required disclosures.