The Activist Investor: Citigroup By Eric Jackson About this article: On Friday, Citigroup announced a few more changes to its board of directors. Former Xerox CEO Anne Mulcahy is not going to stand for re-election to the board this spring, nor is former AT&T CEO C. Michael Armstrong. Citi had already announced in January that MIT professor John Deutch wouldn't be seeking re-election. Instead, Citi will put forward former Mexican President Ernesto Zedillo. Citi's board has been under fire since its government bailout. After all, how could what was once (and not too long ago) the dominant global bank be reduced to such a sorry state, requiring massive government and taxpayer intervention to keep it afloat? In spring 2008, prior to Bear Stearns' collapse, Citi's board consisted of the following members: Armstrong (71), a Citi director since 1989 Alain Belda (66), CEO of Alcoa , a Citi director since 1997 Deutch (71), a Citi director since 1996 (also... To read the rest of this article and sign up for a FREE trial click here...

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