Citigroup Inc. said Tuesday it has rotated the directors in charge of several board committees.
The New York company said Richard Parsons will chair the nominations and governance committee and be lead director of the board. He previously chaired the personnel and compensation committee.
Alain Belda will chair the personnel and compensation committee. He previously chaired the nominations and governance committee and was the company's lead director.
John Deutch will chair the audit and risk management committee and will continue to chair the audit and risk management corporate subcommittee. He also will join Citi's executive committee.
Michael Armstrong will become a member of the personnel and compensation committee. He will remain on the nominations and governance committee and the executive committee.
On Monday, Citi added Lawrence Ricciardi to its board. He will join the audit and risk management committee.
All other committee assignments are unchanged.
This year Citi had indicated it plan to rotate these roles. On Tuesday it said it believes the changes reflect "strong corporate governance practices."
