| | |  Business News 
Former Mexico President Zedillo to Join Citigroup's Board
 Matt Egan - FOX Business
go to original
February 26, 2010
| | Ernesto Zedillo, President of Mexico (1994–2000), at the World Economic Forum Summit on the Global Agenda 2008 in Dubai, United Arab Emirates. (Norbert Schiller) | |
Citigroup said Friday its shrinking board of directors will see a high-profile new addition: former Mexico president Ernesto Zedillo.
The announcement comes as a trio of long-time directors plan to depart the board: former AT&T CEO Michael Armstrong, Xerox Chairman Ann Mulcahy and Massachusetts Institute of Technology professor John Deutch.
By replacing just one of the three, Citi’s board will be left with 15 directors.
Zedillo, who was president of Mexico from 1994 to 2000 and previously worked at Mexico’s central bank, is currently the director of the Yale Center for the Study of Globalization. He is slated to stand for election at Citi’s annual meeting on April 20.
“We are pleased to nominate Dr. Zedillo to join the Board of Directors. Dr. Zedillo's extensive experience as a world leader and his expertise in global economics make him a valuable addition to the Board," Richard Parsons, Citi’s chairman, said in a statement. "He will be a great steward for Citi as it continues to grow internationally and build on its unmatched global strengths."
Deutch had announced his intention to leave the board at the April meeting.
“On behalf of the board of directors, we would like to thank Dr. Deutch, Mr. Armstrong and Mrs. Mulcahy for their years of dedicated service to the Board,” Parsons said. “Each of these distinguished directors has made significant contributions to the company and provided invaluable guidance and counsel during their tenure.”
Citi’s shares were unchanged at $3.39 in the premarkets in the wake of the announcement. The bank’s stock is up more than 4.6% over the past month.
|
|
| |
Vallarta Weddings
Tell a Friend
Site Map
Print this Page
Email Us