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Pandit Steps Down as Chief of Citigroup

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Citigroup's board said on Tuesday that Vikram S. Pandit had stepped down as chief executive, effective immediately, and would be succeeded by the head of the bank's European and Middle Eastern division, Michael L. Corbat. John P. Havens, the bank's president and a longtime associate of Mr. Pandit's, has also resigned. Some at the bank said on Tuesday that they believed Brian Leach, the bank's chief risk officer, could depart soon as well, especially because he was extremely close to Mr. Pandit.

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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