Citigroup Inc. directors are considering replacing Sir Win Bischoff as chairman because they are increasingly disatisfied with the banking group's performance, the Wall Street Journal reported, citing people familiar with the matter.

Only some directors are actively suggesting his replacement; candidates include Time Warner Inc. chairman Richard Parsons, who has also acted as an advisor to President-elect Barack Obama during his campaign, the Journal reported.

The directors are concerned that Bischoff, who is based in London and who holds dual British and German nationality, isn't exercising enough oversight towards chief executive officer Vikram Pandit, who took over from Charles Prince last December, the Journal said.

It's not clear how many want to see Bischoff go, although one person familiar with the situation said it was likely he would depart, the Journal said.

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