Citigroup & Espeed
Citigroup
Citigroup is the world's largest financial institution. Citigroup stock is trading around $37 down from $53 just a few months ago. Citigroup’s shares have drastically underperformed those of its peers since CEO Chuck Prince took over in 2003. This reality has led to increasing pressure on management, specifically Prince, to improve returns. Calls for the company to break itself up in order to increase shareholder value have thus far been ignored by management. Instead Prince has highlighted his own plan to help reinvigorate growth at the financial behemoth. Under new CFO Gary Crittenden, the company has outlined its own three-point plan that includes improving returns on capital, managing expenses and investing in higher-growth business. The first part of this plan was the announcement that Citigroup would cut 17,000 jobs as part of a three-year plan to save $4.6 billion in expenses. (Mara Der Hovanesian , 2004)
Some stockholders believe if the company is successful......
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Approximate Pages: 5 (250 words per double-spaced page)
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