Former U.S. Treasury Secretary Robert Rubin has been named senior counselor at Citigroup. Rubin also served as Citi’s onetime interim chairman, according to The Wall Street Journal.
Rubin was the object of scrutiny when he served as a high-profile director at Citigroup, after losses in the billions due amid the mortgage and credit crises. He was reported to have made approximately a yearly salary of $17 million, including salary, bonus, and stock, according to WSJ.
Citigroup has also eliminated the executive committee, which acted for the board of directors between meetings. The company’s existing nomination-and-governance committee will assume the responsibility to take control of board responsibilities between meetings.