NEW YORK ( TheStreet) -- I decided this week that it would be bad form to beat up Bank of America's (BAC)Ken Lewis in this column once again. From my previous columns related to Lewis' continuous lack of accountability and apparently questionable integrity, I have received numerous comments from those who work with and for him saying he is a good guy caught in a bad situation. OK. I don't buy it completely, but the fact is that he's resigned now and I won't kick him on his way out. If nothing else, this will herald a new era for BofA, at least if they can somehow determine a successor for Lewis by the time he leaves.
But now that Bank of America has finally decided to move on from the troubled leadership of Lewis, what about Citigroup (C)? Promoted to Citigroup CEO in December of 2007, Vikram Pandit has had nothing but trouble as the head of one of the largest banks in the world. From the start, when Wells Fargo (WFC) eased in and took Wachovia out from under his nose, Pandit has been on a slippery slope. In times of crisis, we want our leaders to be decisive, charismatic and able to steer the ship through the storm. In many ways, it appears Pandit has none of these characteristics.
To be fair, Egon Zehnder International, the human resources consultancy that Citi hired to do a management audit, gave Pandit high marks in its recent report. Nonetheless, there are key leadership traits that have been missing in his past performance that should be considered.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV