New York Citi today announced that Michael E. O'Neill was appointed Chairman of the Board of Directors of Citi following its annual meeting of stockholders in Dallas. In addition, Franz B. Humer and Joan E. Spero were elected by stockholders to Citi's Board of Directors.
Mr. O'Neill said: "Citi has been going through a far reaching transformation since I joined the board in 2009. I am pleased to have been part of that process and to have worked with Vikram and his management team as they worked to restore Citi to a position of strength and set a strategy to align itself with the global trends. I look forward to helping tackle the challenges and opportunities that Citi and our industry face."
Vikram Pandit, CEO of Citi, said: "Mike has been a terrific board member and his insight has guided us as we sold the non-core assets in Citi Holdings and focused on our long-term strategic plans. His experience and acumen as a banker is highly valued and he will be a great partner as we continue to execute our strategy. As we commemorate our 200th anniversary, I look forward to working with Mike and the rest of the Board as we continue our focus on supporting economic progress and connecting the world for our clients."
Mr. O'Neill, 65, is the retired Chairman and Chief Executive Officer of the Bank of Hawaii. Previously, Mr. O'Neill was Vice Chairman and Chief Financial Officer at BankAmerica Corporation (now Bank of America) from 1995-1999. Mr. O'Neill earned an M.B.A. from the Darden Graduate School of Business at the University of Virginia and a B.A. in European civilization from Princeton University. Mr. O'Neill also served as a Lieutenant in the U.S. Marine Corps from 1969-1971.
Dr. Humer, 65, is the Chairman of Roche Holding Ltd and served as Chief Executive Officer of the Roche Group from 1998 until 2008. He previously served as Chief Operating Officer and Head of Pharmaceuticals for F. Hoffmann-La Roche Ltd. Dr. Humer is Chairman of Diageo plc. Dr. Humer is the chairman of Friends of Phelophepa Foundation, the chairman of INSEAD and chairman of the International Centre for Missing and Exploited Children. He is a member of the European Round Table of Industrialists, a member of the board of Salzburg University and a member of the board of Jacobs Holding AG.
Ms. Spero, 67, is a Senior Research Scholar at Columbia University School of International and Public Affairs. From 1997 to 2008, Ms. Spero was the President of the Doris Duke Charitable Foundation. Prior to that, she was the Under Secretary of State for Economics, Business and Agricultural Affairs during the Clinton Administration and had previously served in the Carter Administration as Ambassador to the United Nations for Economic and Social Affairs. From 1981 to 1993, Ms. Spero held a number of executive positions at the American Express Company, including Treasurer and Executive Vice President of Corporate Affairs and Communications. She is a member of the board of directors for IBM and International Paper, a member of the Council of American Ambassadors, the Academy of Diplomacy, and the American Philosophical Society, a trustee of the International Center for Transitional Justice, the Morgridge Institute for Research and the Wisconsin Alumni Research Foundation, and a trustee emeritus of Amherst College, the Brookings Institution, Columbia University and the Council on Foreign Relations.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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