Citigroup’s Weill Doubles Compensation

March 6, 2001

Citigroup is offering company head Sanford “Sandy” Weill $28.6 million in salary and bonuses for 2000, almost twice what he received in 1999.

Reuters news service reported the increase based on a filing last week with the U.S. Securities and Exchange Commission.

According to that report, Weill, the company’s chairman and chief executive officer, received $1 million in salary, a bonus of $18.5 million, $8.7 million in restricted stock awards and $449,404 in other compensation. His total 1999 package was $15.5 million.

In 2000, Citigroup had a capitalization of $256 billion and saw record earnings of $14 billion.

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