Shareholders Of Citigroup Reject Big Paychecks

At Citigroup's annual meeting Tuesday, 55 percent of shareholders voted against big paychecks for the firms top executives. Citigroup's latest pay package saw the CEO take home some $25 million, despite dwindling share values. The vote is not binding, but analysts call it historic.

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STEVE INSKEEP, HOST:

NPR's business news starts with an investor revolt.

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INSKEEP: At Citigroup's annual meeting Tuesday, 55 percent of shareholders voted against big paychecks for the firms top executives. Citigroup's latest pay package saw the CEO take home some $25 million, despite dwindling share values. This is the first shareholder rejection of big executive pay at a major Wall Street firm. The majority vote, while not binding, is being called by analysts historic.

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