Citigroup Directors Narrowly Avert Dismissal from Board by Irate Shareholders

(NewsVisual, powered by IntellectSpace) -- Although after the bank wrote down $38 billion in bad debt the shareholders of Citigroup Inc (NYSE:C) were a raucous bunch at the annual meeting that were screaming for some scalps, all of the bank’s Directors escaped unscathed and were reelected to its board.

The New York Times reported on Wednesday that the shareholder anger was intense:

"Dozens of shareholders — including some employees and even a few fired employees — approached the microphones set up at a hotel ballroom in Midtown Manhattan. They spent hours calling Citigroup executives and board members to task for the company’s lagging stock, its poor customer service, the questionable environmental friendliness of its investments and more," The Times reported in its article.

The Directors must now develop a strategic plan that will reverse the bank’s downward decline and that will address the shareholders’ concerns.

NewsVisual created an IntellectSpace Knowledge Map that illustrates key past and current corporate connections of the members of Citi’s Board of Directors in order to assess their abilities in being able to guide the bank toward attaining a turnaround.

The Knowledge Map shows that the bank’s current Directors have a considerable degree of involvement with other corporations.

The most noteworthy board member is, perhaps, Citi Chairman Robert E Rubin.  Mr Rubin is a former United States Secretary of the Treasury during the Clinton Administration.  And he frequently appears on TV news programs as an expert on the financial markets.

It’s also worth mentioning that nine of the Citi Directors depicted in the Knowledge Map are the Chairman of other corporate boards.

For example, Citi Director Richard D Parsons is the Chairman of Time Warner Inc, Citi Director Alain Belda is the Chairman/CEO of Alcoa Inc, and Citi Director Anne Mulcahy is the Chairman/CEO of Xerox Corporation.

To view the remaining Citi Directors and to see the details of their business connections, click here for an interactive and fuller version of this IntellectSpace Knowledge Map.

(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).