Citi’s Board of Directors have announced that William S. Thompson, Jr. will retire from the Board, effective July 20, 2017. Mr. Thompson has served on Citi’s Board since 2009 and was Chairman of the Personnel and Compensation Committee since 2014, in addition to also serving as a member of the Executive and Risk Management Committees.
Mr. Thompson was the Chief Executive Officer of Pacific Investment Management Company (PIMCO) from 1993-2009. Before that, he was chairman of Salomon Brothers Asia Ltd. in Tokyo from 1991 to 1993. Bill began his career at Salomon Brothers in 1975, and held various positions before moving to Japan, including Head of Corporate Finance, as well as Head of Institutional Sales, both for the Western Region.
“Bill’s long career in financial services and expertise in institutional banking made him an invaluable resource to Citi as the firm refocused on its core banking operations and enhanced risk management coming out of the financial crisis,” said Citi Chairman Michael E. O’Neill.
Mr. Thompson would have reached the mandatory retirement age from Citi’s Board of Directors at the company’s next Annual Meeting in April 2018. Mr. Thompson will remain actively involved with a number of philanthropic and civic activities, including Pacific Symphony Orchestra (Life Director), Thompson Foundation for Autism (Chair), Thompson Family Foundation (President), University of Missouri (President’s Financial Advisory Council), and Orange County Community Foundation (Advisory Director).
O’Neill added, “As one of the longest serving members of the Board, Bill’s contributions to the company are extensive, and his valuable perspectives and commitment to serving our shareholders will be missed.”
Following Mr. Thompson’s retirement, the Citi Board will consist of 14 directors, including Ellen M. Costello, Duncan P. Hennes, Peter Blair Henry, Franz B. Humer, Renee J. James, Gene McQuade, Gary Reiner, Anthony M. Santomero, Diana L. Taylor, James S. Turley, Deborah C. Wright and Ernesto Zedillo, as well as Michael Corbat, Citi CEO, and Michael E. O’Neill, Chairman.