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Citigroup Shareholders Reject Massive Pay Package for CEO

HeadlineApr 18, 2012

As protesters rallied against income inequality, shareholders of the banking giant Citigroup held a landmark vote rejecting a $15 million payday for chief executive Vikram Pandit. It’s the first time stock owners at a financial sector titan have united to vote down a massive compensation package for an executive. A principal at a firm controlling five million Citigroup shares told the New York Times, “CEOs deserve good pay — but there’s good pay and there’s obscene pay.”

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