Uncle Vik done at Citi

Huge news from the financial sector. Citigroup's Vikram Pandit has stepped down as CEO. His sidekick, President and COO John Havens has also resigned. Havens came with Vikram from Old Lane and when you link your star so closely to one individual, when that individual goes, typically so do you. There had been rumblings for quite a while now that it was time for a change, and the change has now become a reality. Is this the reason for his exit? The article also states that some of Citi's staff heard about Mr. Pandit's departure from the media before they received the internal announcement.Citigroup's board of directors has appointed Michael Corbat, who headed the bank's operations in Europe, the Middle East, and Africa, as the bank's new CEO. Let us hope that this leadership change moves the needle positively in terms of shareholder value.