Re: [MTC Global] Another Jolt

Life  of a CEO  in any organisation is not a BED of Roses but full of Thorns. Every day in his life is  his Doomsday. The Democle's sword is always hanging on  top of the head of CEOs. Enjoy and contribute as much as possible for the growth of the organisation before you could quit or asked to quit.
V.Nagarajan,
HR Advisor & Trainer,
General Manager-HR (Retd) TTK Group-Hosur
999 4919619
Mail id:   "vnagarajan99@gmail.com"

On Wed, Oct 17, 2012 at 3:19 PM, subbu sankara <apgsub@yahoo.com> wrote:

The power struggle was on from December 2011 / January 2012, since the present Chairman and his cohorts took charge and began planning 'Operation Ouster Vikram Pandit'. Difference of opinion over business strategies and divesting of stakes in a joint-investment with Chase Morgan, in which as per the latest Q results a huge writeoff became necessary. Legacy problems in toxic assets of 2007-08 crisis persisted despite turn around made by Vikram under the most difficult environment.   He could not 'convince' Fed-Rreserve ' which rejected certain actions of the bank and put it on notice after stress-testing. Well, it's all part of the game for an institution like Citi... Too Big to Fail.... category types. The BOD proceedings are linear in hard and soft copies. I have perused in many a bank's Head Offices during my RBI inspection days. They never reflected emotions, anger, altercations, wild exchanges of 'flesh and blood' human beings..  When Vikram was in China last week attending IMF annual conclave, he was robust and active till he returned to HQRS. Back in HQRs during the same period, the present Chairman worked out the nitty-gritty of the 'Ouster Plan'. Within minutes of resignation of the out-going CEO, the new one took over without any 'hiccups'. Nothing was smooth and normal as is made out to be in the press releases of the bank. We generally write good things in obituaries.   The change of guard was  reflected within a few minutes in the bank's global web links.. Such was the speed of digital world that hardly Vikram left the HQRs back home, he was no longer with CITI but driving on the roads in the same City.. Too many happenings are known and too many will never be known.. Vikram may write in his memoirs- his biography ahter he ceases to be an active pro, may be, after another two or three decades.. a best-seller. Failure or a success story, MTC would decide then..!! . With best wishes and love Prof.Subramanian --- On Wed, 10/17/12, Ganesh Natarajan <GaneshN@zensar.com> wrote: From: Ganesh Natarajan <GaneshN@zensar.com> Subject: RE: [MTC Global] Another Jolt To: "join_mtc@googlegroups.com" <join_mtc@googlegroups.com> Date: Wednesday, October 17, 2012, 11:41 AM That's quite a story - he was asked to go and not very gently His COO was "let go" along with him ! Ganesh Natarajan ----------------------------------------------------------------------------------------------- Vice Chairman and CEO, Zensar Technologies Chairman - National Knowledge Committee CII Member - Chairmen's Council NASSCOM Board Member - RPG Group Board Member - Global Talent Track   Zensar Knowledge Park, Plot#4, MIDC, Kharadi, Off Nagar Road, Pune - 411014 Landline :  +91-20- 6510 9292                 Email      :   GaneshN@zensar.com     www.zensar.com & www.gttconnect.com Site : www.ganeshnatarajan.com     -----Original Message----- From: join_mtc@googlegroups.com [mailto:join_mtc@googlegroups.com] On Behalf Of Virendra Goel Sent: Wednesday, October 17, 2012 9:48 AM To: join_mtc@googlegroups.com Subject: RE: [MTC Global] Another Jolt As per news Mr. Pandit has resigned because bank is now out of red and on path of growth hence he has nothing more to do, therefore, he has resigned. Regards Virendra Goel -----Original Message----- From: join_mtc@googlegroups.com [mailto:join_mtc@googlegroups.com] On Behalf Of bnath.dutta@gmail.com Sent: Tuesday, October 16, 2012 10:03 PM To: join_mtc@googlegroups.com Subject: [MTC Global] Another Jolt (Breaking News) Mr. Vikram Pandit , CEO- City Bank Resigns. Exact reasons not known. But things are not normal. Another Jolt................. Let us follow the event . Regards.....Bholanath  Sent from my Nokia phone -- MTC GLOBAL- Educate, Empower, Elevate -- MTC GLOBAL- Educate, Empower, Elevate -- MTC GLOBAL- Educate, Empower, Elevate

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MTC GLOBAL- Educate, Empower, Elevate
 
 

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MTC GLOBAL- Educate, Empower, Elevate