8-KLeadership ChangesExhibits & Filings

CITIGROUP INC 8-K Report, Executive Changes (Feb 26, 2020)

Filed February 26, 2020For Securities:CC-PNC-PR

Summary

Citigroup Inc. (Citi) announced a change in its senior accounting leadership. Raja Akram has resigned from his role as Controller and Chief Accounting Officer, effective February 23, 2020, to pursue other opportunities. This departure necessitates a search for a permanent replacement. To ensure continuity in financial reporting and oversight, Jeff Walsh has been appointed as the interim Controller and Chief Accounting Officer, effective February 25, 2020. Mr. Walsh is a seasoned executive with prior experience in this role at Citi, having served as Controller and Chief Accounting Officer for eight years and subsequently holding a leadership position in the Independent Risk Management group before his retirement. His interim appointment addresses the immediate need for experienced leadership in this critical function.

Key Highlights

  • 1Raja Akram has resigned as Citi's Controller and Chief Accounting Officer, effective February 23, 2020.
  • 2Jeff Walsh has been appointed as the interim Controller and Chief Accounting Officer, effective February 25, 2020.
  • 3Mr. Walsh previously held the Controller and Chief Accounting Officer position at Citi from 2009 to 2017.
  • 4Mr. Walsh also served as Head of Transformation for the Independent Risk Management group from late 2017 to early 2019.
  • 5The company is conducting a search for a permanent replacement for the Controller and Chief Accounting Officer role.
  • 6Mr. Walsh will receive a base salary of $475,000 per year, along with eligibility for discretionary incentive compensation and benefits.

Frequently Asked Questions

Raja Akram resigned from his position as Controller and Chief Accounting Officer to pursue another opportunity.

Jeff Walsh has been appointed as the interim Controller and Chief Accounting Officer.

Jeff Walsh has extensive experience at Citi, having previously served as Controller and Chief Accounting Officer for eight years (2009-2017) and later as Head of Transformation for the Independent Risk Management group (late 2017-early 2019).

Jeff Walsh will be paid a base salary of $475,000 per year and will be eligible for discretionary incentive compensation and benefits in accordance with Citi's plans and policies.