CalPERS Airs Concerns About Citigroup CEO Pay on PBS Newshour
April 19, 2012
CalPERS was among a number of Citigroup shareowners that publicly rebuffed Citigroup’s executive pay package at their annual meeting this week. Anne Simpson, CalPERS Director of Corporate Governance, outlined why the pension fund, which holds ten million shares of Citigroup stock, voted against the $14.9 million pay package for Citi’s CEO Vakram Pandit. Simpson explains that CalPERS is concerned about a lack of transparency and the failure of Citigroup to anchor pay to performance.