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Citi Revamps Executive Pay Plan, Awards Corbat $11.5 Million for 2.5 Months of Work; ING Group Appoints New CEO

FEB 22, 2013 8:50am ET

Receiving Wide Coverage ... Citi's Executive Pay Plan: Citigroup is revamping its executive pay plan by now linking a portion of an executive's total compensation to the "company's performance relative to other big banks." These so-called "performance share units," payable three years after the firm meets performance goals, are being introduced after investors revolted against a proposed $15 million compensation package for former (and ultimately ousted) CEO Vikram Pandit in April. The new structure "will pay…

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