From Yahoo Finance: 2025-04-29 11:02:00

Citigroup shareholders approve CEO Jane Fraser’s 33% pay increase to $34.5 million in virtual meeting. Some shareholders question bonuses for compliance work amid fines for data flaws. Despite criticism, pay package easily approved. Board reduces transformation bonus payment for 2024, program not renewed.

CEO Jane Fraser expects higher expenses for regulatory fixes this year, but costs to fall from 2026. Restructuring efforts under Fraser have made Citigroup more resilient to economic changes. Profit surges in Q1 as traders benefit from volatile markets. Shareholders approve issuance of 30 million new shares for variable compensation payments.

Shareholders reject proposals, including limit to severance packages. Citigroup chairman John Dugan defends management accountability amid pay increase scrutiny. Fraser highlights bank’s readiness for economic changes and new U.S. policies. All directors reelected, board of directors confirmed. Meeting concludes with approval of all proposed resolutions.



Read more at Yahoo Finance: Citigroup’s shareholders approve 2024 pay for CEO, executives, new shares for grants