Citigroup Inc. announced late Friday that former U.S. Bancorp Chairman Jerry A. Grundhofer has resigned from its board of directors, effective immediately.
Grundhofer joined Citi's board in early 2009 and later that year was named chairman of the bank's audit and risk management committee. He was also a member of nomination and governance committee, according to the company's 2011 proxy statement.
Grundhofer was the chief executive officer of Firstar Corp. of Milwaukee in 2000 when it acquired U.S. Bancorp and took its name. He was chairman at the Minneapolis-based U.S. Bancorp from 2002 to 2007.
