Charlie Gasparino Reports More on Why Chuck Prince Needs to Leave Citigroup

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By Douglas A. McIntyre Updated Published
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Stock Tickers: C, BAC, NYX, JPM

Charlie Gasparino on CNBC was reporting today is that the leadership of Citigroup (C-NYSE) by Chuck Prince is lacking, and he’ll be out in the next year if he doesn’t get the stock up.  Even the switch of Krawcheck to wealth management is just noise according to his report, and the Prince issue is the real issue.  Gasparino even went out and said these 3 were being touted as potential good replacements:  NYSE head John Thain; or J.P.Morgan Chase’s head Jamie Dimon; or Al de Molina formerly CFO of Bank of America. 

What wasn’t mentioned is that de Molina is the only really available.  It is unlikely Thain would leave NYSE to take that job and same goes for Jamie Dimon.  Who knows what they would have to pay to make it happen, but it would be in the hundreds of millions most likely.

This is all ongoing dirt on why Chuck Prince is still one of the 10 CEO’s that need to go.  Prince just needs to get out of the way.  So far Nardelli of Home Depot and Pressler of Gap have bitten the dust, and they were on that list of CEO’s that need to go.

Jon C. Ogg
January 24, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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