By Tatiana Bautzer and Pritam Biswas (Reuters) -Citigroup CEO Jane Fraser was elected as chair of board of directors, the bank said in a filing on Wednesday. Fraser replaces John Dugan, who has been chair since 2019 and will now become lead independent director. The board also granted a one-time equity award of $25 million […]
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Citigroup CEO Jane Fraser elected board chair, gets $25 million stock award
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By Tatiana Bautzer and Pritam Biswas
(Reuters) -Citigroup CEO Jane Fraser was elected as chair of board of directors, the bank said in a filing on Wednesday.
Fraser replaces John Dugan, who has been chair since 2019 and will now become lead independent director. The board also granted a one-time equity award of $25 million that will vest fully within five years, to ensure “leadership continuity”, according to the filing.
(Reporting by Pritam Biswas in Bengaluru; Editing by Anil D’Silva)