7 major management shakeups of 2012

Vikram Pandit
vikram pandit
Company: Citigroup

Perhaps one of the most surprising shakeups of late was Vikram Pandit, the Citigroup (C, Fortune 500) CEO who, just after reporting a rather strong third quarter for the bank, stepped down. He had been a controversial leader, one that former FDIC head Sheila Bair was quick to criticize following the CEO's fall. Shareholders also had begun to grumble over Pandit's $15 million pay package for 2011. In Pandit's place, Citigroup named Michael Corbat as its new CEO. Corbat has been with Citi for almost three decades and most recently led the bank's operations in Europe, the Middle East, and Africa.

Source: Getty
  @FortuneMagazine - Last updated November 20 2012 11:08 AM ET
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