Summary
Citigroup Inc. has announced a significant leadership transition. Michael L. Corbat, the current Chief Executive Officer, plans to retire in February 2021. This move marks the end of his tenure and initiates the search for his successor. In anticipation of Mr. Corbat's retirement, the Board of Directors has appointed Jane Fraser as the new Chief Executive Officer, effective upon Mr. Corbat's retirement. Ms. Fraser, currently the President and CEO of Global Consumer Banking, has a comprehensive background within Citi, holding various leadership roles across different divisions and regions. Her appointment signals a continuation of leadership from within the organization and highlights her extensive experience in managing key business segments.
Key Highlights
- 1Michael L. Corbat, CEO of Citigroup, announced his planned retirement in February 2021.
- 2Jane Fraser has been appointed as the new CEO of Citigroup, effective upon Mr. Corbat's retirement.
- 3Ms. Fraser will also join Citigroup's Board of Directors.
- 4Jane Fraser currently serves as President of Citigroup and CEO of Global Consumer Banking.
- 5Ms. Fraser has a long history with Citigroup, holding leadership positions in various divisions and regions since 2004.
- 6The filing also lists exhibits, including a statement of securities registered and an Inline XBRL cover page.