No, only sound policies will be able to revive the worlds largest bank and the pride of US. Mr Pandit brought it back from the brink after asking for a revival package from the US Govt, lets see where it`s new CEO takes them from here?
Mr.Vikram Pandit ouster is because the racial discrimination in Citibank? There was a lobby with citi bank which was against him from the day one. His chairman is not amused by his style of functioning. The share holders are not happy and rejected the compensation package of Mr.Vikram last year. He has worked 2 years with $ 1 (one dollar) salary per year. All the stock options given to him are worth less as the strike price ($40 per share) is higher than present share price of $36. All we know the citi shares gone to the level of $5.8 in 2008 bounced back to $36 in October 2012. The Q3 profit was much better than market expectations. Still Mr.Vikram was denied a "golden parachutte" while he is leaving the bank. Citi is already on the recovery path , so it will continue but not due to Vikram`s Ouster.