Citigroup Inc.'s board said in response to a published report that Citi's chairman, Win Bischoff, has the board's "full support."
The Wall Street Journal reported Thursday that some directors had grown frustrated with the New york company's performance and were considering replacing Mr. Bischoff.
The Citigroup board called the Journal report "erroneous" and said it "looks forward" to Mr. Bischoff's "continued leadership." Mr. Bischoff, 67, was named chairman in December 2007 after Charles O. Prince was ousted.
"We're standing by our story," said Robert Christie, a spokesman for Dow Jones & Co., which owns the Journal. Dow Jones is a unit of News Corp.