Reply #38: Bloated Paychecks: Willumstad to collect $18 million upon exit from Citigr [View All]

[UpInArms]

Willumstad to collect $18 million upon exit from Citigroup

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38593.4173672106-840964143&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

NEW YORK (MarketWatch) -- Robert Willumstad, who announced in July he would step down as chief operating officer from Citigroup (C) , will receive more than $18 million in stock and $583,333 in salary when he leaves at the end of the month, according to a federal filing made late Friday. Willumstad will not be allowed to work for a competitor including American Express Co. (AXP) , Bank of America (BAC) , Morgan Stanley (MWD) , J.P. Morgan Chase (JPM) , Wachovia Corp. (WB) , Goldman Sachs Group (GS) and others. Shares of Citigroup fell 3 cents to $43.07 in early trading.

How many overdraft charges will that take to cover? :eyes: