White Guys Hounded Out Vikram Pandit

Once he became chairman this year, Mr. O’Neill, 66, meticulously built a case for the chief executive’s ouster, first meeting privately with less-satisfied board members and then drawing in others until Mr. Pandit had virtually no allies left.

Senior Citi executives feel that the action was needlessly ruthless. They point out that Mr. Pandit successfully steered the once moribund bank through one of its most turbulent chapters, repaid roughly $45 billion in federal lifelines, rebuilt capital and began to focus the sprawling institution.

NYT: Citi Chairman Is Said to Have Planned Chief’s Exit Over Months