FYI ! interesting ? not bad !
Citigroup CEO takes home $26 million in 2006
Chairman and Chief Executive Charles Prince was awarded a $13 million bonus on top of his salary and stock options last year.
Chairman and Chief Executive Charles Prince
March 13 2007: 6:44 PM EDT
NEW YORK (Reuters) -- Citigroup Inc. said Tuesday that it awarded Chairman and Chief Executive Charles Prince $25.98 million in compensation for 2006, about 13 percent more than a year earlier, though costs grew twice as fast as revenue.
Prince was given a $1 million salary, a $13.2 million bonus, $10,633,333 in stock awards, $746,607 in option awards and $395,779 in other compensation, according to the bank's proxy filing with the U.S. Securities and Exchange Commission.
Chairman and Chief Executive Charles Prince
Compensation includes amounts awarded as accounted for by Citigroup (Charts), not cash or stock that Prince received. Year-earlier results are not precisely comparable because Citigroup, like many companies, changed how it discloses compensation.
New Citigroup CFO may earn $10M in '07
New York-based Citigroup last year increased operating profit 7 percent to $21.25 billion. Revenue rose 7 percent, while operating expenses rose 15 percent.
Prince is under pressure from many investors and analysts to curb spending and generate faster revenue growth.
The company's shares rose 15 percent last year, topping the 13 percent gain in the 24-member Philadelphia KBW Bank Index. Most of Citigroup's rise was in December, when Prince installed Robert Druskin as chief operating officer and put him in charge of a comprehensive cost-cutting plan.
Among other Citigroup executives, Executive Committee Chairman Robert Rubin was awarded $17.34 million, Druskin $15.71 million, and Vice Chairman Stephen Volk $9.83 million. Sallie Krawcheck, the chief financial officer before becoming wealth management chief on Monday, was awarded $9.92 million.
Citigroup said an independent compensation consultant reviewed the executives' pay, and found it "reasonable."
Ken Thompson, who runs No. 4 bank Wachovia Corp. (Charts) , was awarded $23.85 million for 2006. No. 2 Bank of America Corp. (Charts) and No. 3 JPMorgan Chase & Co. (Charts) have yet to disclose compensation for their top executives.
Many Wall Street banking executives received more compensation, led by Goldman Sachs Group Inc. (Charts) Chief Executive Lloyd Blankfein, who was awarded $54.3 million.
IBM chief got $18.8 million in 2006
Google CEO, co-founders stick with $1 salary
