Former Citi (C) chairman and CEO Sandy Weill acknowledged blowing his successor CEO pick Chuck Prince, who got the firm into the mess it’s in today. In an interview with the FT, Weill implicitly trashed Prince, and took responsibility:
I certainly have responsibility for working with the board in devising a plan of succession and I would not give myself very good grades on that. At the time, I thought I was doing the right thing but it did not turn out to be, did it?
No, no it didn’t. But at least Sandy’s feeling some of the pain. He remains chairman emeritus and a large shareholder in Citi.