Pandit Speaks: Decision to Leave Citigroup (C) Was My Own

Vikram Pandit spoke with Bloomberg Television’s Erik Schatzker in his first interview following his departure as CEO of Citigroup (C).

Pandit told Schatzker, “This was decided yesterday afternoon. I made the decision. I talked to [Citigroup Chairman] Mr. O’Neill. I don’t believe in having lame-duck sessions, in having the outgoing CEO looking over the shoulder of the incoming CEO.” Excerpts from the interview can be found below, courtesy of Bloomberg Television.


Pandit on whether he was pressured out:

“I’ve been thinking about this for a long time. It was my decision. I made it talking to Mr. O’Neill, and we did it understanding that the company was ready.

On what he could have done differently:

“It’s hard to come up with things we should have done differently. I was first out of the box to raise capital. I feel very good about the decisions that we’ve made.”

“The job was about transformation and turnaround, and we’ve done the turnaround.”

“There are always bumps in the road. But the real issue to me is look at the five-year track record. It was never going to be a straight line.”

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