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Charles Prince stepped down as CEO of Citigroup Inc. in November, not long after world's largest bank reported a 57% drop in quarterly earnings and lost nearly a quarter of its market value.
"It is my judgment that given the size of the recent losses in our mortgage- backed securities business, the only honorable course for me to take as chief executive officer is to step down," Prince said in a statement at the time.
Two months after Prince walked away, Citigroup suffered a $10 billion quarterly loss -- the largest ever in the company's history -- and announced an $18.1 billion writedown due to mortgage-backed investments.
In 2006, Prince's total compensation was $24.8 million, including a $13.2 million bonus and $10.4 million in stock awards. As part of his separation agreement with Citigroup, Prince is entitled to an office, executive assistant, and a car and driver for up to five years, according to a SEC filing.
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