Citigroup Inc. (C, Financial) has announced the election of Titilope Cole as a new director on its Board of Directors, effective January 31, 2025. Ms. Cole, who previously served as the Head of Legacy Franchises at Citigroup, brings a wealth of experience to her new role. In addition to her directorial duties, she will serve on the Risk Management Committee, the Technology Committee, and the Transformation Oversight Committee.
Ms. Cole's appointment extends to Citibank, N.A., where she will assume her board member responsibilities starting February 3, 2025. Despite her extensive background with Citigroup, the Board has determined that Ms. Cole is not independent under the company's Corporate Governance Guidelines, which align with the New York Stock Exchange's corporate governance rules.
There are no familial ties or related party transactions between Ms. Cole and any current officers or directors at Citigroup. Her compensation as a non-employee director will adhere to Citigroup's established practices, as outlined in the company's Annual Proxy Statement filed with the U.S. Securities and Exchange Commission.
Ms. Cole's previous role at Citigroup entitles her to compensatory agreements, including future delivery of Citigroup common stock, subject to specific conditions. These compensations were approved by the Compensation, Performance Management and Culture Committee of Citigroup’s Board.
This strategic appointment is expected to enhance Citigroup's governance and oversight capabilities, leveraging Ms. Cole's expertise in legacy franchises and cloud monitoring solutions, as evidenced by her concurrent board membership at DataDog, Inc.
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