Charlie Gasparino Reports More on Why Chuck Prince Needs to Leave Citigroup

Stock Tickers: C, BAC, NYX, JPM

Charlie Gasparino on CNBC was reporting today is that the leadership of Citigroup (C-NYSE) by Chuck Prince is lacking, and he’ll be out in the next year if he doesn’t get the stock up.  Even the switch of Krawcheck to wealth management is just noise according to his report, and the Prince issue is the real issue.  Gasparino even went out and said these 3 were being touted as potential good replacements:  NYSE head John Thain; or J.P.Morgan Chase’s head Jamie Dimon; or Al de Molina formerly CFO of Bank of America. 

What wasn’t mentioned is that de Molina is the only really available.  It is unlikely Thain would leave NYSE to take that job and same goes for Jamie Dimon.  Who knows what they would have to pay to make it happen, but it would be in the hundreds of millions most likely.

This is all ongoing dirt on why Chuck Prince is still one of the 10 CEO’s that need to go.  Prince just needs to get out of the way.  So far Nardelli of Home Depot and Pressler of Gap have bitten the dust, and they were on that list of CEO’s that need to go.

Jon C. Ogg
January 24, 2007