Citi Lifts CEO Fraser's Pay 22% To $42 Million After Stock Surge

Citigroup's board of directors has increased CEO Jane Fraser's compensation by 22%, raising her total pay to $42 million. This decision comes in the wake of a significant rise in Citigroup's stock, reflecting the board's confidence in Fraser's ability to steer the company through a transformative period. Under her leadership, Citigroup is focused on improving its performance after years of lagging behind competitors in the banking sector. Fraser, who made history as Citigroup's first female CEO when she took over in March 2021, is implementing a series of strategic initiatives aimed at revitalizing the bank's operations and enhancing shareholder value. The decision to enhance her pay is viewed as a strong endorsement of her management approach and the progress she has made thus far. As the financial services industry continues to evolve, Fraser's role will be critical in positioning Citigroup for future growth and competitiveness in a challenging market landscape.