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Shareholders Of Citigroup Reject Big Paychecks
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Shareholders Of Citigroup Reject Big Paychecks

Business

Shareholders Of Citigroup Reject Big Paychecks

Shareholders Of Citigroup Reject Big Paychecks
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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.

STEVE INSKEEP, HOST:

NPR's business news starts with an investor revolt.

(SOUNDBITE OF MUSIC)

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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