Citigroup Shareholders Approve CEO's Hefty Pay Raise

Citigroup shareholders have endorsed a significant 33% pay increase for CEO Jane Fraser, raising her total earnings to $34.5 million. During a virtual annual meeting, over 91% of shareholders supported the pay packages for Fraser and other senior executives, while all board proposals were approved with substantial majorities.

In a clear show of confidence, Citigroup shareholders overwhelmingly approved a substantial pay rise for CEO Jane Fraser during a virtual annual meeting on Tuesday. Fraser's compensation soared by 33%, totaling $34.5 million, amid robust support from investors.

According to the vote tally, more than 91% of shareholders backed the compensation packages for Fraser and other senior executives, signifying strong approval of the leadership team's direction and performance. This significant show of support comes as Citigroup continues to navigate the complexities of the financial market.

Alongside Fraser's endorsement, all proposals put forth by Citigroup's board received more than 90% in favor, reinforcing the board's strategic plans. Meanwhile, all shareholder proposals were rejected, underscoring a united front by the board and the shareholders.

(With inputs from agencies.)