Vikram Pandit tried to sound a hopeful note at Citigroup annual meeting today, telling investors “we’re positioned to win” and promising to repay TARP Funds.
But this didn’t stop shareholders from spending hours airing their grievances. The meeting was reportedly unusually packed and the atmosphere was described as somber. At one point Citi Chairman Richard Parsons mentioned the five “talented” departing members of the board, prompting a man in the audience to yell out: “Thank God you’ve gone!” The departing board members, who include Win Bischoff and Robert Rubin, declined to reply.
But you have to wonder whether they weren’t thinking the same thing, “Thank God we’re out of here.”