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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Citigroup Inc | NYSE:C | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.65 | 1.06% | 62.00 | 4,039 | 12:47:26 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 28, 2015
Citigroup Inc.
(Exact name of registrant as specified in its charter)
Delaware | 1-9924 | 52-1568099 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
399 Park Avenue, New York, (Address of principal executive offices) |
10022 (Zip Code) |
(212) 559-1000
(Registrant's telephone number,
including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
CITIGROUP INC.
Current Report on Form 8-K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously announced, Manuel Medina-Mora, Citi Co-President, CEO of Global Consumer Banking and a named executive officer of Citigroup Inc., will retire from Citi employment on June 1, 2015 and will become the nonexecutive Chairman of the Board of Directors of Grupo Financiero Banamex, S.A. de C.V. and of Banco Nacional de Mexico, S.A. (Banamex) (together, the Banamex Boards). On May 28, 2015, the Personnel and Compensation Committee of the Board of Directors of Citigroup Inc. approved annual fees of $250,000 for Mr. Medina-Mora’s service on the Banamex Boards. Administrative and security services necessary for Mr. Medina-Mora’s Banamex Board service will also be provided.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number | |
10.1 | Letter Agreement regarding Banamex Board Service. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CITIGROUP INC. | ||
Dated: May 29, 2015 | ||
By: |
/s/ Rohan Weerasinghe Rohan Weerasinghe General Counsel and Corporate Secretary |
EXHIBIT INDEX
Exhibit Number |
|
10.1 | Letter Agreement regarding Banamex Board Service. |
EXHIBIT 10.1
May 28, 2015
Mr. Manuel Medina-Mora
Citigroup Inc.
399 Park Avenue
New York, New York 10043
Re: Banamex Board Service
Dear Manuel,
As announced earlier this year, you have agreed to become the nonexecutive Chairman of the Board of Directors of Grupo Financiero Banamex, S.A. de C.V. (Grupo) and of Banco Nacional de Mexico, S.A. (Banamex) (together, the Boards) immediately following your retirement from Citigroup on June 1, 2015. You will be paid by Grupo and/or Banamex for your services as Chairman of the Boards at the rate of USD$250,000 per year (less applicable taxes); this fee compensates you for service on both Boards including any Board committee service. The fee will be prorated on a monthly basis for partial years of service, and is payable in monthly installments in Mexican pesos using the fixed exchange rate established by the Boards for Board fees, which currently is Ps$15 (Mexican pesos) per U.S. dollar through the date of the annual shareholders’ meetings of Grupo and Banamex to be held in 2016. To enable you to perform these services, you will have access to an office and an administrative assistant in a Banamex office building for your tenure as Chairman of the Boards. You and your spouse (together, your household) will also be provided with security as considered necessary by Citi’s Global Head of Security and Investigative Services for your tenure as Chairman of the Boards.
Sincerely,
_/s/ J. Michael Murray __________ | /s/Ernesto Torres Cantu |
J. Michael Murray | Ernesto Torres Cantu |
Head of Human Resources | Director General |
Citigroup Inc. | Grupo Financiero Banamex, S.A. de C.V. |
Banco Nacional de Mexico, S.A. |
Acknowledged and Agreed:
By:_/s/ Manuel Medina-Mora
Manuel Medina-Mora
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