Citi Shareholders Vent at Meeting

Citigroup(C Quote) shareholders on Tuesday expressed frustration and outrage over the financial titan's poor performance over the past year at the company's annual meeting in New York.

Shareholders barraged Citi on a myriad of issues, calling for, among other things, changes on the board of directors and the breakup of its sprawling businesses. Bank executives also endured complaints about executive compensation levels and questions on whether it would further cut its dividend. Roughly 1,000 participants attended the four-hour long meeting held in midtown New York, not far from Citi's headquarters.

Vikram Pandit, in his first annual meeting as CEO of the bank, attempted to assuage angry shareholders by reaffirming his commitment to providing long-term shareholder value. Citi is undertaking a "meaningful" re-engineering effort, he said. Citi on Friday posted a $5.1 billion first-quarter loss and said it was slashing 9,000 jobs to cut costs. ...