How do CEO’s get away with it? If I write something on this blog and and 5 months latter I state the complete opposite, my bog readers would crucify me. But not CEO’s of major companies……
Citigroup CEO Vikman Pandit of Citigroup pushed a theme “Be big…Be global” in August 2008 He stated:
We are in 107 countries and we believe the right model is a global, universal bank. It is the only model that creates value in emerging markets that have less developed financial markets”
The New ViKman Pandit of Citgroup now says:
Stay in only select countries, reduce exposure in Japan, split business into two core banking areas, and ramp up the shedding of noncore assets”
His new theme: Downsize. Stop the bleeding!
I have a vision that I would like to share with you regarding the comments of the CEO of Citigroup.
I’ll file this under one CEO eating crow.
Source: Wall Street Journal & NY Post