You can’t make this up.
Wanted: new members for the board of directors for a major international financial institution. Must have experience as a Chairman/CEO/COO or comparable position, special skills that do not overlap with existing board members, and a reputation in their own right that shows they can make the kinds of judgments that board members have to make. Must be able to make decisions on behalf of all company stakeholders, and have a willingness to challenge management as needed.
I reworded it a bit, but it all comes from the official announcement. Start here and then look here (pdf).
I’m not making this up.
Citigroup needs all the help they can get, and they’re asking for suggestions. Since they asked, I’ve got a couple of names for them . . .
How about Ben Cohen or Jerry Greenfield? They both know quite a bit about being responsive to stakeholders (which now includes us, the taxpayers).
Then there’s Larry Page and Sergei Brin — their "ten things" would transfer well to a financial giant.
But my dream nominee to the board at Citi? That "willingness to challenge management" part just screams for someone like this.
How about you — any suggestions to help out the poor folks at Citi?
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Well, since Citi continues to shrink in value, perhaps this fellow can prepare them for microcredit.
Thanks Peterr. Thanks to Eureka Springs for opening the digg.
I’ve got just the guy.
Except that he may have too many scruples.
I will apply for job, rules to be written in stone;
“do not invest in something that is really nothing”
“do not buy small businesses to put them out of business or to fire staff”
“do not move American jobs overseas”
“do not give bonuses when losing money”
“do not ask for welfare and then give bonuses”
I will have a bunch more rules but I think those right there will disqualify my credentials
shame
It seems the banking industry are cooking up ways around to the $500K limit. If it is an international company, how about another division say in Germany pays the CEO into a Swiss account.
You’ll never get anywhere in corporate America with an attitude like that.
Have there been rats deserting a sinking ship that created this(these) vacancies?
i would love to see the jaws drop if howie were to apply. i agree, peterr, howie is exactly the change citi needs.
hehe. I’d love to see ‘em try. Fraudulent conveyance is a biatch. The language does not to be tight though, to stop all forms of deferred compensation.
does need to be tight, excuse me.
We could be Citi V-jays.
First I would pipe Billy Bragg through every office! *s*
Add: Do not maintain Caribbean tax dodge mail box
After my first glass of wine I would like to nominate Willie Nelson.
Dear sirs:
I would like to nominate myself and yes, I am willing to suck it up and only accept $500,000 for the job. I realize we all have to make sacrifices. By the way, if this is for Rubin’s job can I have his office? Also I realize that a board member is supposed to look out for the interests of investors. I hope that this won’t be seen as a negative but I favor the nationalization of Citi which would mean wiping these investors out. I don’t see this as a deal killer though since you the current management have already done so much to destroy the value of your company. I mean your market cap and $5 will get me a nice coffee at Starbuck’s, right? So other than that I think we have a deal. Please send me my first paycheck in $20 and $100 bills unmarked, of course, in a brown paper bag in c/o Guido the Fish.
Thanks, guys
working with you is easier than I thought.
I nominate Charles Brewer, founder of Mindspring. He could bring his Core Values and Beliefs, along with his 14 Deadly Sins of Business.
Yah, too bad he ultimately sold out to Earthlink, but Citi would respect that pragmatic business call.
I don’t see why Hugh should get this job. I want it. I’ll do it for less, say $400,000. Unfortunately I share Hugh’s desire for nationalization. I’d go farther. I think we should work on a haircut for bondholders, or maybe a debt for equity swap.
Careful, you two.
My patience for not putting people in prison is very thin nowadays.
You wouldn’t want to get caught up as collateral damage in the big sweep.
What are the legal liabilities of being a director? The potential downside?