Citi Discloses New Independent Board Members (C, USB, BOH)

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By Douglas A. McIntyre Updated Published
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Citigroup Inc. (NYSE: C) has disclosed those four new independent board members that it is nominating for election at the April 21 shareholders’ meeting.  There were reports last week that these would be established and known individuals with deep roots  in the financial community.  These are the individuals named:

Jerry A. Grundhofer, 64, Chairman Emeritus and retired Chairman and Chief Executive Officer of the Board of U.S. Bancorp (NYSE: USB).

Michael E. O’Neill, 62, retired Chairman and Chief Executive Officer of the Bank of Hawaii Corporation (NYSE: BOH).

Anthony M. Santomero, PH.D., 62, most recently a Senior Advisor at McKinsey & Company, served as the ninth President of the Federal Reserve Bank of Philadelphia from 2000-2006.

William S. Thompson, Jr., 63, retired in 2008 as CEO of PIMCO, the giant fixed income investment management company.

Citi has 10 of its current 15 board members standing for re-election.  Of those five not up for re-election, 2 are retiring and 3 have chosen to not stand for re-election.  Chairman Richard Parsons said that the board will reach 14 if these nominees are elected, and noted that the board will consider future additions.

JON C. OGG

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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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