Citigroup Nominates Four New Independent Directors

Embattled Citigroup, which has been criticized for investing too heavily in the housing market and for having a compliant board of directors, has nominated four new independent directors to stand for election in April, the company announced today.

The nominees:

-- Jerry A. Grundhofer, 64, is chairman emeritus and former chairman and chief executive of U.S. Bancorp.

-- Michael E. O'Neill, 62, is former chairman and chief executive of Bank of Hawaii.

-- Anthony M. Santomero, 62, a former senior adviser at McKinsey & Co. and the former president of the Federal Reserve Bank of Philadelphia.

-- William S. Thompson Jr., 63, is the former chief executive of bond investment manager Pimco.

Former Time Warner chief executive (and President Obama economic adviser) Richard Parsons took over chairmanship of Citigroup's board last month.

-- Frank Ahrens
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