Citigroup Inc Chairman, Mr Richard D. Parsons, who helped steer the bank through its near-death experience in the financial crisis, is considering stepping down after three years in the post.
Citing people familiar with the situation, The Wall Street Journal said Mr Parsons is considering stepping down after three years in the post.
The 63-year-old Parsons is expected to decide by early March, the report said, adding that he wants to focus on “other interests’’.
Regardless of his decision, Citigroup is expected to keep separate the posts of chairman and chief executive, the report noted.
Mr Parsons, who became Chairman in 2009, was a Citigroup director since 1996. Previously, he served as Chairman and Chief Executive at Time Warner Inc.
Bad bets on mortgages and other securities nearly sank Citigroup in 2008 and forced the bank to accept tens of billions of dollars in US aid. In 2011, Citigroup posted a profit of $11.3 billion.