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Citi chairman Parsons considers stepping down: WSJ

Last Updated: Monday, January 30, 2012 - 10:21

New York: Citigroup's chairman, Richard Parsons, is considering giving up the position to focus on other interests, the Wall Street Journal reported on Sunday, citing people familiar with the situation.

According to the report, Parsons, 63, is expected to decide by early March whether he will continue in the role. Regardless of his decision, the company is expected to keep the posts of chairman and chief executive separate, the Journal said.

Citi officials could not be immediately reached for comment.

Parsons was named chairman of the bank in 2009 when the bank was reeling from the financial crisis. He has been a director at Citigroup since 1996.

Parsons previously served as chief executive and chairman at Time Warner, where he stabilized the company after its disastrous merger with America Online.

Bureau Report

First Published: Monday, January 30, 2012 - 10:21
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