Charles Prince was the CEO of Citigroup from October 2003 until his retirement in December 2007. His tenure wasn’t ordinary – he led during one of the toughest times for the financial industry. Before becoming CEO, he was involved in...
Charles Prince was the CEO of Citigroup from October 2003 until his retirement in December 2007. His tenure wasn’t ordinary – he led during one of the toughest times for the financial industry. Before becoming CEO, he was involved in many key roles at Citigroup, including Chief Operating Officer and Chairman of Citi Markets & Banking. During his final year as CEO, he earned over $15 million, including a whopping $10 million bonus, tied to the company's performance. Prince owned a substantial amount of Citigroup stock, worth more than $834,000 at one point, and his total stock holdings were valued at over $1.2 million. His leadership came under scrutiny during the global financial crisis, leading to his resignation shortly after. After leaving Citigroup, he continued to receive significant benefits, including a high salary and support for five years. Prince’s decisions were often tied to performance metrics like return on equity, which reflects his focus on aligning executive pay with company results.