NEW YORK--(BUSINESS WIRE)--Citi's Board of Directors today announced that it has nominated Ernesto Zedillo as a new non-management director candidate to stand for election at Citi's annual shareholder meeting on April 20, 2010. Dr. Zedillo was the President of Mexico from 1994 to 2000 and is now Director of the Yale Center for the Study of Globalization.
"We are pleased to nominate Dr. Zedillo to join the Board of Directors. Dr. Zedillo's extensive experience as a world leader and his expertise in global economics make him a valuable addition to the Board," said Richard Parsons, Chairman of the Board. "He will be a great steward for Citi as it continues to grow internationally and build on its unmatched global strengths."
As previously announced, John M. Deutch will not be standing for election at the April annual shareholder meeting. In addition, C. Michael Armstrong and Anne M. Mulcahy have indicated their intention not to stand for election at the annual shareholder meeting in April.
"On behalf of the Board of Directors, we would like to thank Dr. Deutch, Mr. Armstrong and Mrs. Mulcahy for their years of dedicated service to the Board. Each of these distinguished directors has made significant contributions to the Company and provided invaluable guidance and counsel during their tenure. All three of these directors were diligent and rigorous in terms of carrying out the Board's oversight responsibilities. They will be missed,” Mr. Parsons added.
Dr. Zedillo, 58, is Director of the Yale Center for the Study of Globalization, and Professor in the Field of International Economics and Politics at Yale University. Dr. Zedillo was the President of Mexico from 1994 to 2000. In his years of public service to the Government of Mexico, Dr. Zedillo served as the Secretary of Education and the Secretary of Economic Programming and the Budget. Dr. Zedillo also served as the Undersecretary of the Budget to the National Government of Mexico. From 1978 to 1987, Dr. Zedillo worked at Mexico's Central Bank (Banco de Mexico), serving in various positions, including those of deputy Head of Economic Research and deputy Director of the institution. Dr. Zedillo is on the boards of Alcoa Inc. and Procter & Gamble Company.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.Citigroup.com or www.Citi.com.